Spot gold hits another all-time high, with the 'Trump trade' joining the ranks of price drivers.
①Spot gold has strengthened, hitting a high of $2688.82 per ounce, surpassing the previous record set on September 26th; ②Analysts believe that in addition to geopolitical tensions, the gold price is also influenced by the "Trump trade".
Israeli forces open fire on UN forces! FXStreet Chief Analyst: Gold prices expected to rise by about $25 again.
On Thursday in the Asian market, spot gold maintained a strong trend after a big rise yesterday, with the price currently near $2675 per ounce. Chief analyst Valeria Bednarik from FXStreet pointed out that the target for gold is to reach a new all-time high, challenging the $2700 per ounce level.
Refusing to callback, far exceeding the model's valuation, Deutsche Bank exclaimed: gold is truly amazingly strong!
Deutsche Bank stated that at certain times this year, gold has risen without financial fair value support. Currently, the Federal Reserve still has further room for loosening, which further strengthens the upward trend of gold. The price of gold is expected to continue to outperform financial fair value at the end of this year, with the largest magnitude since 1998.
Pointing to $2700? Gold approaches historical highs again as investors weigh the outcome of the USA election and the direction of USA Federal Reserve interest rates.
As investors shift their focus to the upcoming USA election, the price of gold is approaching a historical high. Polls predict that the competition in the USA election will be very intense in less than three weeks.
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