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Two major pieces of news from Russia and Ukraine, gold surges again! Gold price soars nearly $15 within the day. How to trade gold.
In early European trading on Thursday, spot gold accelerated its short-term rise, with the price approaching $2665 per ounce, a nearly $15 surge intraday. FXStreet senior analyst Dhwani Mehta pointed out that the gold price is at its highest level in over a week. Geopolitical risks continue to support the traditional safe-haven gold prices.
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Gold Continues Bullish Trend, Eyes US$2,700 Mark
The demand for hedging has ignited the gold bulls, with gold prices rising for four consecutive days! Analysts say that in the coming years, 3,000 dollars will look "very cheap."
Goldman Sachs expects gold prices to rise further to $3,000 per ounce by the end of next year, while UBS Group anticipates gold prices will reach $2,900 per ounce.
Commodity experts predict that gold will soar to a historic high next year!
Analysts indicate that Trump's policies and goals are contradictory, which will create uncertainty and lead investors to flock to defensive assets such as gold.
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