Gold Hits a New Peak: 2,789 $ per Ounce Amid Global Turbulence
In a whirlwind of political drama, shifting trade policies, and economic uncertainty, gold has surged to a record‑setting 2,789 $ per ounce. Investors are piling in as the world looks to a gold‑enforced safe haven.
Market Shake‑Ups
- U.S. Presidential Race: The election has added a risk premium. As Trump gathers supporters, worries mount over tariffs, inflation and fiscal health.
- Geopolitical Tension: Escalating conflicts reinforce gold’s “safe‑haven” reputation.
- Dollar & Treasury Yields: Both have softened slightly – a pause in their rally means gold enjoys a little breathing room.
Data to Watch
Today’s U.S. GDP release followed by Thursday’s PCE inflation gauge and Friday’s nonfarm payrolls will paint a clearer picture of the economy and shape expectations for the Fed’s next rate move.
Demand Outpaces Supply
The third quarter saw historical demand for gold, bolstered by powerful ETFs. Recent inflows suggest investors are more bullish than ever.
Key Takeaway: With ETFs continuing to inflate, the precious metal could comfortably climb toward the 3,000 $ per ounce mark sometime in 2025.
