Gold is heading towards its eighth consecutive weekly acquire, buying and selling round $2,927 per ounce, pushed by robust haven demand and rising ETF holdings.
Buying and selling close to $2,927 an oz, the dear metallic has benefited from a number of tailwinds, together with strong ETF inflows exceeding 16 tons this week alone, marking the biggest weekly enhance since 2023.
The rally has been fueled by geopolitical uncertainties, significantly considerations over President Trump’s potential assembly with Vladimir Putin concerning Ukraine, which might sideline European allies. After gaining 27% in 2024, gold’s attraction has been additional enhanced by a weakening US greenback and Goldman Sachs’ bullish outlook, with the financial institution elevating its year-end goal to $3,100 per ounce.
