Gold Prices Rally To Three-Month Highs Amid Global Uncertainty And Trump's Advocacy For Lower Interest Rates
Date
1/24/2025 11:22:26 PM
(MENAFN- Investor Ideas) Investorideas ( ), a go-to platform for big investing ideas releases market commentary from Miro Svoboda,Investment Advisor, Harbourfront Wealth - Sonora Wealth Group.
"Gold prices surged to three-month highs and could reach new records, driven by widespread market uncertainty and a weakening US dollar. The precious metal's appeal as a safe-haven asset has increased, reflecting growing investor concerns about global economic stability. The market's upward momentum has also been influenced by US President Donald Trump's advocacy for lower interest rates and the evolving narrative surrounding his trade policies.
However, a recent call with Chinese President Xi Jinping suggested a potential softening in Trump's tariff stance, raising hopes for a trade deal with China. This shift marks a significant departure from his earlier position, where he had identified China, the EU, Canada, and Mexico as potential targets for import levies, raising widespread concerns about possible retaliatory measures.
Trump's comments come ahead of the Federal Reserve's upcoming meeting next week, where policymakers are widely expected to maintain interest rates unchanged. A change in the tone of the Federal Reserve could affect the direction of the market. The global economic outlook under the current US administration could continue to provide strong support for gold prices, as uncertainty persists. As a result, gold's appeal as a safe-haven asset could remain robust."
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