The gold shone again In international markets by continuing to negotiate in a record price range, exceeding US $ 3,720 per ounce. The rebound was backed by strong entries to the quoted funds (ETF) linked to metal, which registered their greatest increase in three years.
The impulse was not limited to gold. Silver also advanced strongly, accumulating an year -on -year increase greater than 50% and breaking the resistance of US $ 43. The dynamism of both metals confirms their position as some of the raw materials with the best performance of the year.
Gold ETFs continue to grow
According to Bloomberg, at the end of last week the ETF backed by bullion grew 0.9%, the Upload more pronounced since 2022.
Banks analysts such as Goldman Sachs They anticipate that the upward trend could be maintained, backed by a combination of factors: the most lax fed monetary policy, the increase in gold reserves by central banks and a global scenario of geopolitical tensions that keeps alive the search for safe shelters.
In this framework, Soni Kumariraw material strategist in ANZ, said the technical indicators reinforce the probability of new advances. “The technical indicators are quite solid and increase the expectations of deeper rates cuts,” he said specifically.
Correction or consolidation?
However, some analysts warn that the strong jump of gold, of more than 10% in five weekscould give way to a consolidation period. Heraeus Priceus Metals warned that the metal is “overcompared”, which opens the possibility of lateral movements or even temporal corrections.
“This increases the possibility of a consolidation period, so the price could fluctuate laterally or even down for a while,” he said.
In parallel, the market awaits key data this week, including spending on personal consumption in the United States of August, the main inflation reference for Fed. A cooling in that indicator could strengthen bets for more feats of fees.
Source: Ambito
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