The gold price has continuously gained value over the past weeks and months, recently reaching a new all-time high. This increase is attributed to several factors, including geopolitical tensions, economic uncertainties, and demand for safe investment forms.
Current Developments
- New All-Time High: The gold price has surpassed the mark of 3,300 US dollars for the first time, currently standing at around 3,286 to 3,295 US dollars per ounce, which represents a significant increase compared to previous weeks.
- Geopolitical Tensions: The trade war between the USA and China, as well as conflicts in Ukraine and the Middle East, contribute to uncertainty and boost demand for gold as a safe investment form.
- Economic Uncertainties: Fear of a global recession and the expectation of interest rate cuts by the US Federal Reserve further support the gold price.
Factors Influencing Gold Prices
1. Geopolitical Tensions
- Trade War: The escalation of the trade conflict between the USA and China leads to uncertainties in the markets and drives investors into safe investments like gold.
- Conflicts in Ukraine and the Middle East: These conflicts increase the demand for gold as a crisis protection.
2. Economic Uncertainties
- Recession Fears: The fear of a global recession and the associated economic uncertainties bolster the demand for gold.
- Interest Rate Cuts: The expectation of interest rate cuts by the US Federal Reserve may further raise the gold price, as a loose monetary policy typically drives the gold price up.
3. Demand and Supply
- Central Bank Purchases: Increased demand from central banks, especially from emerging countries, supports the price increase.
- Private Investors: There is strong buying interest from private investors in China, which further raises the gold price.
Forecasts and Outlook
Forecasts by Goldman Sachs and UBS: These banks anticipate that the gold price could rise further in the coming months, with forecasts exceeding 4,000 US dollars.
Long-term Perspective: Ongoing geopolitical tensions and economic uncertainties could continue to support the gold price.
Overall, the current increase in the gold price demonstrates the strong demand for safe investment forms during times of uncertainty and confirms the importance of gold in the commodity sector for investors.