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.
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