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Express News | U.S.-Listed Shares of Gold Miners Fall Premarket Tracking Bullion After US, China Agree to Cut Tariffs, 90-Day Pause
Gold has been hit hard! The price of gold has plummeted by over 65 dollars. A joint statement from China and the United States is about to be released, and there are sudden reports of a ceasefire between Russia and Ukraine.
In the early trading in Asia on Monday, spot Gold continued its intraday decline, with the gold price currently dropping to around $3260 per ounce, plunging more than $65 during the day. According to analysis from Bloomberg in the USA, the decline in Gold is influenced by signs of progress in US-China trade negotiations and a reduction in geopolitical tensions, which affect Gold's safe-haven status.
Bond King Gundlach strongly supports Gold: tariffs fundamentally changed the market, and Gold prices are expected to rise another 20%!
① "Bond King" Gundlach predicts that Gold prices could rise to $4,000 per ounce, a 20% increase from current prices; ② He emphasizes that tariffs have fundamentally changed traders' perceptions of Precious Metals, and Gold is now seen as a monetary Asset; ③ Analysts believe that a healthy consolidation of Gold prices may still continue in the short to medium term, but the structural factors supporting Gold's strength remain solid.
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The most aggressive expectations for Gold have arrived! Bank of America is fully confident: it will surge to 4000 dollars within the year.
① Analysts at Bank of America predict that gold prices could reach $4,000 per ounce in the second half of the year, which is one of the most aggressive forecasts currently on Wall Street; ② Bank of America believes that for gold prices to reach $4,000, certain specific conditions need to be met: an increase in gold investment and stabilization in jewelry demand; ③ In addition, the bank points out that geopolitical uncertainties caused by global trade and concerns over the U.S. government's fiscal outlook are driving the increase in gold prices by the end of the year.