Geopolitical Influence Still Strong, Safe Haven Continues to be Sought
Today, the market is awaiting the interest rate decision from the European Central Bank (ECB) and weekly jobless claims data from the United States. Both of these data have the potential to influence market sentiment towards gold as a hedging asset.
In addition, news regarding the potential for dialogue between the United States and China regarding steel and aluminum import tariffs provides hope for easing trade tensions, which could affect demand for gold. Another thing that supports this is the ongoing war between Ukraine and Russia after Putin said he would retaliate against the attack on 40 Russian planes by Ukraine. Meanwhile, the nuclear agreement between America and Iran has not yet reached a meeting point which could affect demand for gold.
Despite price fluctuations, demand for gold remains strong, especially from central banks that continue to increase their gold reserves. This shows that gold is still considered a safe asset amid global economic uncertainty.
Today's gold price movements reflect market dynamics influenced by various global factors, including monetary policy and trade tensions. For investors, it is important to continue to monitor these developments and consider gold as part of a portfolio diversification strategy.
Source: (mrv@Newsmaker)
