Gold prices continue to rise, reaching new highs. On Friday, gold futures went up to $3,114 after setting their 17th record this year. Trade war fears grew due to President Trump’s auto tariff announcement, while a weaker US dollar also helped boost prices. Bank of America analysts raised their gold price target to $3,500 per ounce in the next 18 months, citing increased investments from China and central banks. They believe uncertainties in trade policies could drive the USD lower, supporting gold prices. Macquarie Group also predicts gold hitting $3,500 in the third quarter. JPMorgan analysts even wonder if $4,000 is possible, considering the metal’s rapid price increase. They mention a shift in demand for gold following the freezing of Russian assets. Gold remains a top pick for bullish investors, with its price rally attracting attention.
Vocabulary List:
- Futures /ˈfjuː.tʃərz/ (noun): Contracts to buy or sell an asset at a predetermined price at a specified time in the future.
- Tariff /ˈtærɪf/ (noun): A tax imposed on imported goods and services.
- Boost /buːst/ (verb): To increase or improve something.
- Uncertainties /ʌnˈsɜːrtən.tiz/ (noun): Situations where there is lack of certainty or predictability.
- Predicted /prɪˈdɪktɪd/ (verb): Said what would happen in the future based on current knowledge or reasoning.
- Bullish /ˈbʊl.ɪʃ/ (adjective): Having a positive outlook or sentiment regarding market conditions.
How much do you know?
What price did gold futures reach on Friday?
What did Bank of America analysts raise their gold price target to?
Which event helped boost gold prices according to the text?
What do JPMorgan analysts wonder if is possible in terms of gold price?
Why did Bank of America analysts believe trade policies could drive the USD lower?
What is a top pick for bullish investors according to the text?
Trade war fears decreased due to President Trump's auto tariff announcement.
Macquarie Group predicts gold reaching $2,000 in the third quarter.
Gold prices hit $3,114 after setting their 17th record this year.
JPMorgan analysts believe $5,000 is possible for gold prices.
Bank of America analysts cite increased investments from Brazil as a factor in raising the gold price target.
Gold remains a top pick for bearish investors.
Bank of America analysts raised their gold price target to $ per ounce in the next 18 months.
Macquarie Group predicts gold hitting $ in the third quarter.
JPMorgan analysts even wonder if $ is possible, considering the metal's rapid price increase.
Gold remains a top pick for investors, with its price rally attracting attention.
Trade war fears grew due to President Trump's auto tariff announcement, while a weaker US dollar also helped boost prices. Bank of America analysts raised their gold price target to $ per ounce in the next 18 months.
JPMorgan analysts even wonder if $ is possible, considering the metal's rapid price increase. They mention a shift in demand for gold following the freezing of Russian assets.
