Gold Hits New Record High Despite Unusual Fundamentals!
Gold prices rose again in the Asian session on Tuesday morning, driven by a positive fundamental outlook. The precious metal rose 0.5% to $4,131.72 per ounce, after setting an intraday record of $4,132.04 per ounce. This increase reflects growing investor interest in safe-haven assets amid concerns about global economic policy.
The BofA Global Research research team estimates that gold prices have the potential to continue their rally into 2026. In their report, they projected that gold could reach $5,000 per ounce, while silver could rise to $65 per ounce. The report assessed that unconventional US economic policy will continue to be a key supporting factor.
According to analysts, the main drivers of gold's strength include the widening fiscal deficit, increasing government debt, and expectations of interest rate cuts. These three factors weaken the US dollar and increase gold's appeal as a hedge against inflation.
With these new records, gold's upward trend is expected to continue in the medium term. Market players are now awaiting further signals from the Fed and US fiscal policy, which will determine the future direction of gold prices.
5 Key Points:
Gold rose 0.5% to $4,131.72 per ounce, a new record high.
BofA projects gold prices could reach $5,000 per ounce by 2026.
Unconventional US economic policies are supporting the gold rally.
Driving factors: the fiscal deficit, rising debt, and the potential for interest rate cuts.
The medium-term outlook remains positive amid global uncertainty. (asd)
Source: Newsmaker.id
