Biden's major decision triggers the market! Big news from Russia and Ukraine stimulates safe-haven demand, with the gold price surging nearly $49. How to trade gold next?
On Monday, due to the halt in the rising momentum of the usa dollar and the renewed uncertainty from the escalation of the Russia-Ukraine conflict, gold prices surged, after having fallen for six consecutive trading days. Daniel Pavilonis, a senior market strategist at RJO Futures, stated: "Part of the reason is that usa President Biden announced the provision of long-range missiles to Ukraine, enabling it to conduct deeper strikes into Russian territory. I believe this has triggered some safe-haven demand for gold."
Shares of Precious Metals Stocks Are Trading Higher Amid a Rise in the Price of Gold and Silver, Which Are Rebounding After Falling Last Week.
Express News | Analysis: Gold has broken away from the downtrend following the USA election, with strong demand keeping its shine intact.
The significant news from Russia and Ukraine has stimulated a daily surge in gold prices by over 21 dollars. How to trade next? FXStreet senior analyst gold technical analysis.
In early European trading on Monday, spot gold maintained a strong intraday surge, with the current price near $2584 per ounce, up more than $21 intraday. FXStreet senior analyst Dhwani Mehta pointed out that gold rebounded strongly early Monday morning and approached the key level of $2600 per ounce. The risk of escalating geopolitical tensions between Russia and Ukraine is imminent, prompting buyers to return in large numbers.
Goldman Sachs directly suggests: buy gold! Next year, the price of gold will reach $3000.
①Goldman Sachs expects the target price of gold to reach $3000 per ounce by December 2025, due to increased central bank demand and the impact of interest rate cuts in the USA; ②Reports suggest that escalating trade tensions may revive speculative positions in gold; ③ Goldman Sachs has identified gold as the top choice for commodity trading in 2025, and indicates that the price of gold may continue to rise during Trump's term.
The dollar's upward momentum paused, gold prices rebounded! Goldman Sachs is calling out to "buy gold", predicting $3000 by the end of next year.
Risk aversion sentiment is warming up again.