Gold Prices Soar to Record High on Solid Central Bank Demand
–News Direct–
Gold prices just hit another all-time high this week, rising above $2,350 per ounce, driven by ongoing central bank gold buying and safe-haven inflows due to geopolitical tensions.1
In March, Chinas central bank added another 160,000 troy ounces to its reserves, marking its seventeenth consecutive month. As the Chinese yuan experiences a decline in its status as the world's second most significant reserve currency, and countries such as Japan, Russia, Turkey, and Poland express concerns about overdependence on the US dollar, a notable shift towards gold has emerged.
Looking ahead, analysts remain optimistic about gold's outlook, with some predicting prices could climb even higher. According to famed economist David Rosenberg, the latest gold run is ...