Gold hits another fresh record – ING
Gold rallied to a new all-time high amid trade war concerns that risk higher inflation and slower economic growth, spurring demand for safe-haven assets, ING’s commodity analysts Warren Patterson and Ewa Manthey notes.
Cntral banks’ buying last year exceeds 1,000 tonnes
“Gold is already up by more than 9% so far this year and has hit a series of consecutive record highs along the way. While the uncertainty over trade and tariffs continues to boost Gold prices, Trump’s latest comments that the US take over the Gaza Strip and assume responsibility for reconstructing the territory have added to Gold’s bullish momentum.”
“Meanwhile, central banks’ buying last year exceeded 1,000 tonnes for the third year in a row, accelerating sharply in the fourth quarter to 333 tonnes and bringing the net annual total to 1,045 tonnes, according to the latest data from the World Gold Council.”
“The National Bank of Poland led the charge, adding 90 tonnes to its Gold reserves last year, but demand was seen from a broad range of emerging market banks.”
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.