US EditionGold Surges as Trump Calls Weak Dollar ‘Great’
Gold rose over 20% this year, hitting $5,243 as the dollar fell near a four-year low amid geopolitical concerns and Fed policy expectations, Deutsche Bank forecasts $6,000 by 2026.
- On Wednesday, gold broke through $5,200 for the first time as spot gold rose to $5,243.58, up more than 20% since the start of the year.
- Market analyst Kelvin Wong said White House remarks implied a consensus for a weaker dollar, while U.S. consumer confidence fell to its lowest level in over 11 and a half years in January.
- Wong warned immediate resistance could emerge around $5,243.58 as U.S. gold futures for February delivery jumped 2.6% to $5,216.80.
- Other precious metals rallied, with spot platinum gaining 2% to $2,692.60 after a record $2,918.80 on Monday and spot silver up 1.9% at $115.11 after a record $117.69, while the 'white metal' has jumped almost 60% this year.
- Deutsche Bank projected gold could reach $6,000 per ounce by 2026 as the U.S. Federal Reserve is widely expected to maintain current rates.
15 Articles
15 Articles
Gold surges as Trump calls weak dollar ‘great’
The price of gold has surged 20 per cent this month, surpassing US$5,200 for the first time, fuelled by dollar weakness, central bank buying and retail speculation. The metal jumped 3.4 per cent on Tuesday, the most since April, after US President Donald Trump said that a weaker greenback is “great”. The comment spurred a rush to ditch the currency in favour of “safe haven” gold. Speculation that Trump will appoint a rate-cutting Federal Reserve…
Gold's blistering rally continues past US$5,200 as dollar plunges
GOLD broke through US$5,200 for the first time on Wednesday and was just shy of the US$5,300 level as the dollar plunged to a near four-year low amid persisting geopolitical concerns, ahead of a U.S. Federal Reserve monetary policy decision.
Gold Soars Past $5,300 After Trump Says Dollar Should 'Find Its Level'
Gold hit a fresh all-time high, surging to $5,311 per ounce on Wednesday morning. The yellow metal continues at a high pace, surging 22.5% year-to-date, ahead of the closely watched Federal Reserve policy decision. Trump's Dollar Price Discovery The latest rally catalyst came from the U.S. dollar,…
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