"Gold has scaled another all-time high today of $3,729.83, having hit dozens of ATHs this year so far. In a month, gold has surged 12% and increased an astonishing 42% over the past 12 months. Solomon Global's contributing analyst Nick Cawley, in his note of September 1st, highlighted that gold was set to test $3,750/oz this year. Paul Williams, managing director of Solomon Global, now envisions $4,000."
"Gold has increased almost $400 since August 22nd, supported by numerous factors including a softening US dollar, inflation concerns, anticipated additional rate cuts from the Fed, declining confidence in risk assets, ongoing geopolitical flashpoints and continued accumulation by central banks. These dynamics and this momentum look set to remain, putting gold on a trajectory that makes $4000 by Christmas a strong possibility."
Gold reached a new all-time high of $3,729.83 after hitting dozens of ATHs this year. Gold surged 12% in a month and rose 42% over the past 12 months. Solomon Global contributing analyst Nick Cawley noted gold was set to test $3,750/oz this year, and Paul Williams, managing director of Solomon Global, envisions $4,000. Gold has gained almost $400 since August 22nd, driven by a softening US dollar, inflation concerns, anticipated additional Fed rate cuts, weakening confidence in risk assets, ongoing geopolitical flashpoints, and continued central bank accumulation. Momentum and these dynamics make $4,000 by Christmas a strong possibility.
Read at London Business News | Londonlovesbusiness.com
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