Wall Street is constantly pushing its already bull call to gold, because the precious metal climb to the new maximum.
Gold (Gc = f) Futures on Thursday touched their 17th record of the year and then climbed north of $ 370 Notification of the automatic tariff of President Trump He raised further concerns about the growing trade war. Movement below in the US dollar (Dx-y.Nyb) The index also helped to increase prices.
From 2:03:25 Edt. Open market.
At the beginning of this week, analysts at Bank of America have increased their $ 3,000 price target for $ 3,500 per ounce over the next 18 months. The new goal is based on the assumption that investments increase by 10% more purchases from China and central banks and continued purchases of physically supported ETFs.
“The uncertainty of business policies of Trump's administration could continue to push lower USD, which further supported the prices of golden gold.
“The confusion of factors, mostly driven by the Mix of Economic Policy Trump Administration, pushed investors to increase their allocation on yellow metal,” the analysts wrote.
BOFA calls a similar forecast by Macquarie Group, who recently predicted The expensive metal will affect $ 3,500 in the third quarter of this year.
Mezice 15% of the rally, which from the year -on -year rally, even forced JPMORGan analysts to ask if the price was $ 4,000.
Scientists noted the company that the price of the commodity has moved from $ 2,500 to $ 3,000 in just $ 210, which is significantly faster than the previous $ 500 additions, which on average for $ 1,700.
JPMorgan analysts asked on Wednesday in the client note: “With each phase of $ 1,000 it takes about two -thirds less time than the previous one and weigh the law to reduce revenues along with the attraction of investors for round numbers, could a mark $ 4,000 just around the corner?”
Analysts said that the freezing of Russian foreign assets after the War of Ukraine “caused a structural change in demand for gold”. Last year's demand for expensive metal has reached a historic maximum How central bank purchases accelerated.
“It is heading until 2025, gold has remained our best bull selection for the third consecutive year in a row,” the analysts wrote.
Ins Ferre is a senior business reporter for Yahoo Finance. Watch it on x on @INes_ferre.
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