Why do gold prices can reach a new $ 3000 record

Gold prices are likely not to lose their shine, even after 40%in the last 12 months.

A SPDR GOLD SHALL OR GLD, The largest fund, which is traded on the stock exchange, with the support of physical gold, is 1.9 billion in the largest tributary on February 21, 2024.

“We believe that demand is throughout the board. We see that institutions are either adding or setting long -term strategic asset distribution positions. We see how individual investors do the same. We see a certain amount of fomo. There is fear to disappear when the price is gaining strength up “George Miling Senley, Global Global Street Global Street Global Advisors.

It emphasizes three long -term growth drivers that aligned for greater Gold profits this year.

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“We continue a very strong purchase of the Central Bank for official reserves. It was a feature over the last 15 years in the gold market, and it was very important, starting 10% to 25% of the total demand for end users any year. And I think it is very important cost support when it shows any signs of weakening,” explaining milling. “The purchase of the Central Bank has mostly doubled in 2022 to more than 1000 metric tons,” he added.

The gold spot retained profits on Monday when traders questioned the expectation of increasing interest rates against metal calls as a good value. (Istock / Istock)

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“In addition, we have observed a great increase in investment in developing markets and especially in China, but in India and other places last year, a year and a half, by the end of last year, which also joined the great growth in the developing market again, for new markets,” he added. “We saw the revival of investments in gold in the Western world, Western Europe and North America, I think, mostly from -was Concerns of the worldview for the US economy And for the European economy on this. ”

Prices for gold (Trading Economy)

Gold was distracted from its record of $ 2947 per ounce; The milling stengli still predicts that yellow metal can trade from $ 2,900 to 3100 this year.

Inflation remains a wild card. The consumer price index increased by 3%more than expected. Prices remain elevated for items such as eggs, beef and transport.

Buyer jewelry, pawnshop and buy and sell the theme of the concept of precious metals with a bunch of money in US dollars, gold rings, necklace bracelets and gold bars isolated on a white background

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On Friday, A raised measure of inflation of the federal reserve system Ros in January, 2.5%annually, with the main PCE increased by 2.5%. Both were in accordance with analysts’ expectations.