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Major signals in the gold market! The trade war intensifies as China promotes record inflow into Gold ETFs.
Due to trade war rhetoric between the world's largest economies shaking the Global market, Chinese investors poured a record amount of Cash into Gold-backed Exchange Traded Funds (ETFs) last week, as the safety of this asset attracted investors. According to Bloomberg, last week, the inflow into four major onshore Gold ETFs, including the Huaxing Yicai Gold ETF, reached a record 7.6 billion yuan.
Goldman Sachs issued a rally call for Gold: "The 'golden pit' has appeared, now is the time to build positions with the 'most confidence'."
Goldman Sachs makes a bold statement! The pullback in Gold creates an excellent buying opportunity, with a target of 3,300 dollars steady as a rock!
After Trump made strong statements and Gold plummeted, he suddenly "changed his tone"! Gold prices rebounded by nearly 20 dollars. Analysis of the technical outlook for gold prices by FXStreet's chief Analyst.
On Tuesday during the Asian market, spot Gold rebounded strongly after a sharp decline in the previous Trade, with the price just reaching $3000/ounce, gaining nearly $20 during the day. Concerns over the escalation of the Trade war have stirred up market risk aversion. Analysts warn that the Gold market still faces significant volatility risks in the short term.
The drop in gold prices offers an excellent buying opportunity! Goldman Sachs maintains its year-end target price expectation of $3,300.
① The global market sharply declined on Monday due to tariff risks, and gold prices also fell below $3,000, down 4.9% from this year's historical highs; ② Analysts at Goldman Sachs believe that the drop in gold prices presents a buying opportunity and maintain their forecast for gold prices to surpass $3,300 per ounce by the end of the year; ③ Goldman Sachs points out that macroeconomic risks, low investor Hold Positions, government reciprocal tariffs, demand from Emerging Markets central banks, and inflows into Gold ETFs will support gold prices.
Trump Tariffs Take a Bite Out of the Soaring Gold Price. Is This the End of Bullion's Record Rally?
The White House urgently debunks rumors, and Trump sends a significant signal regarding tariffs! Gold prices plummeted over 56 dollars. How to trade Gold?
On Monday (April 7), spot Gold prices plummeted over 56 dollars. Analysts pointed out that as US tariffs raise concerns about a Global economic recession, investors are turning to the dollar for safety, putting downward pressure on Gold, in addition, the soaring US Treasury yields are also hitting Gold prices.
