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Gold price momentum increases amid geopolitical headwinds
espite short-term headwinds from the conflict in the Middle East, gold is expected to resume its forward momentum once the war concludes with the yearly average gold price forecast to surge by 43% to a new record high of $4 920/oz this year, precious metals research consultancy Metals Focus says. In noting some of the key levers driving the current gold demand, the consultancy says there was modest growth in mine production, with recycling expected to lift total supply by 3.1% this year, while total gold demand is projected to decline by 2.3% as double-digit losses in jewellery and central bank purchases are largely ... (full story)
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- Jun 4, 9:35am | 29 hr ago Posted byFundamental Analysis100
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