While the Israel-Hamas conflict shows no signs of easing, Alexander Zumpfe, precious metals trader at Heraeus, said investors are increasingly looking for stable investment opportunities during times like these. so and gold once again met these expectations.
In addition to developments in the Middle East, investors are also keeping an eye on the stance of US monetary policy with the speech of US Federal Reserve Chairman Jerome Powell this weekend. According to the CME FedWatch tool, markets are forecasting a 90% chance the Fed will leave interest rates unchanged at its policy meeting next month.
In addition to developments in the Middle East, investors are also keeping an eye on the stance of US monetary policy with the speech of US Federal Reserve Chairman Jerome Powell this weekend. According to the CME FedWatch tool, markets are forecasting a 90% chance the Fed will leave interest rates unchanged at its policy meeting next month.
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Gold, often used as a safe store of value in times of political and financial turmoil, rose 3.4% last Friday. This was the largest daily increase in seven months due to strong safe-haven demand and short-term liquidity.
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Colin Cieszynski, market strategist at SIA Wealth Management, said that the gold market still has many bullish prospects. Geopolitical uncertainties continue to be factors driving gold's rise.
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