Hello gold enthusiasts! 🌟 As the US Dollar Index cools, gold's glowing appeal persists, with today's trading keeping the precious metal at an impressive $2,345—a gain of 0.26% on the day.
However, with a series of consecutive price increases, gold faces a wave of profit-taking. Even so, the metal's shine has not dimmed, fueled by three powerful undercurrents fueling its record rise:
🔹 Geopolitical currents: Ongoing conflicts in Ukraine and Gaza stir volatile waters, with the potential for spillover to other countries keeping investors and governments on high alert. In these turbulent waters, gold emerges as a sturdy lifeboat for those seeking shelter from the storm.
🔹 Central bank gold rush: World Gold Council reports show notable gains, with global central bank gold reserves increasing by 19 tonnes in February.
🔹 Inflation prevention: As the wave of inflation increases, gold's reputation as a bulwark is reinforced, against the erosion of currency value.
In terms of news: This week's economic calendar tends to be brighter, all attention is focused on the US Consumer Price Index (CPI) report for March, predicted on Wednesday (April 10). ), followed by the US Producer Price Index (PPI) and weekly unemployment claims on Thursday (April 11).
However, with a series of consecutive price increases, gold faces a wave of profit-taking. Even so, the metal's shine has not dimmed, fueled by three powerful undercurrents fueling its record rise:
🔹 Geopolitical currents: Ongoing conflicts in Ukraine and Gaza stir volatile waters, with the potential for spillover to other countries keeping investors and governments on high alert. In these turbulent waters, gold emerges as a sturdy lifeboat for those seeking shelter from the storm.
🔹 Central bank gold rush: World Gold Council reports show notable gains, with global central bank gold reserves increasing by 19 tonnes in February.
🔹 Inflation prevention: As the wave of inflation increases, gold's reputation as a bulwark is reinforced, against the erosion of currency value.
In terms of news: This week's economic calendar tends to be brighter, all attention is focused on the US Consumer Price Index (CPI) report for March, predicted on Wednesday (April 10). ), followed by the US Producer Price Index (PPI) and weekly unemployment claims on Thursday (April 11).
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