The ingot continues to rise by the appetite of refuge, the strong demand for ETF and expectations of flexibility of rates by the Fed. La Plata, the platinum and the paladium also registered significant increases.
The price of gold exceeded on Monday the US $3,800 The ouncereaching a Historical maximum of US $ 3,812.05in the midst of a generalized rebound of precious metals. The climbing is produced in a context of weakened dollar, expectations of monetary flexibility and fears of a Possible closure of the US government.
The ingot accumulates Six consecutive earningsbacked by a constant flow towards quoted funds (ETF) backed by gold and for the sustained demand for central banks. La Plata also rose strongly – until 2.4% – while platinum and paladium advanced driven by the narrowness of the supply and the increase in metal lease rates.
The Dollar weakness responded waiting for political definitions in Washington, where Congress and President Donald Trump try to negotiate a bill to avoid the partial paralysis of the Federal Administration. An eventual closure could delay the publication of key data such as the September Employment Report, very often by the markets.
Dollar Blue
Analysts consider that Weakest work figures would reinforce the possibility of Rate cuts In October by the Federal Reserve, which makes assets that do not generate performance, such as gold even more attractive. Despite uncertainty, Barclays strategists claim that the ingot is still a “Surprisingly good value coverage” Faced with the risk of political tensions on the independence of the Fed.
How much gold went up so far this year
So far this year, gold has risen 45%chaining three consecutive trimesters upwards. Banks like Goldman Sachs and Deutsche Bank They anticipate that the trend will continue, while official purchases and the environment of low rates persist.
La Plata reached its highest level since 2011, quoting at US $46,78while platinum exceeded US $1,600 ounce For the first time in more than a decade and El Paladio climbed to its greatest value since July. Citigroup analysts warned that the investigation of section 232 promoted by Trump on critical minerals could lead to Paladio import tariffswhich adds pressure to an already adjusted market.
Source: Ambito
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