US EditionJewelers see boom as gold prices break records
- In mid-March, the gold price surpassed $3,000 per ounce for the first time, leading Bank of America and UBS to significantly raise their gold price forecasts.
- Gold is traditionally seen as a stable asset and reliable store of value during market fluctuations, especially when currency value declines, making it a strategic investment amidst economic uncertainty.
- Bank of America's revised forecasts project gold prices reaching $3,063 per ounce in 2025 and $3,350 per ounce in 2026, while UBS raised its gold price forecast to US$3,200 over the next four quarters, citing persistent geopolitical risks and a prolonged trade conflict.
- According to Avi Bulow, owner of Bulow Jewelers, increased demand for gold, especially for heavier jewelry pieces, is driven by higher prices and its perceived value, with gold having appreciated by 38% in the past year.
- Driven by geopolitical uncertainties, potential tariff escalations, and expectations of US Federal Reserve rate cuts, central banks aggressively acquired gold in 2024, purchasing over 1,000 metric tons and reversing prior outflows from funds investing in gold stocks, with experts like Bulow anticipating prices to remain above $3,000 per ounce.
17 Articles
17 Articles
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Gold is a valuable metal, but with so many fake or mixed metals on the market, it’s important to know if what you have is real. Whether you’re buying, selling, or simply curious about a piece of gold jewelry or coin, there are several ways to test its authenticity. Here’s how to test gold at [...] The post How To Test Gold At Home appeared first on KahawaTungu.
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