Gold has reached record highs of over £2,342 ($3,080) amidst President Trump's tariffs, driving investors towards this safe haven. Geopolitical and economic uncertainties have increased the demand for physical gold, creating logistical challenges that contribute to rising prices. Rick Kanda, Managing Director at The Gold Bullion Company, predicts continuous growth in gold prices, forecasting a potential rise to $3,500 by the end of the week. He emphasizes that the movements of gold holdings should not be misinterpreted as a supply crisis but rather as organized relocations between banks.
President Trump's tariff war is evidently causing economic uncertainty, which is concerning buyers. This is raising gold prices as buyers seek physical holdings.
The shift in buyers wanting their physical gold rather than cash has led to price increases due to added pressure and logistical challenges.
Forecasts predict gold could reach $3,500 by the end of the week, with continued significant increases expected throughout 2025.
Movements of gold holdings between banks shouldn't be seen as a supply crisis, but rather as organized relocation of vaulted gold.
Collection
[
|
...
]