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.
Goldman Says 'Go for Gold' as Central Banks Buy, US Fed Cuts in 2025
Gold lost some luster due to Trump, analysts recommend buying on the dips!
Analysts point out: "People are truly interested in gold when all other investment categories are not effective."