🏆 Analysts at Metals Focus noted that after a brief pause in June, the gold market rally resumed in July. The price of the precious metal started below $2300 and quickly surged to $2400, reaching a new all-time high of $2483! 🎉
According to experts, the economic and geopolitical environment is expected to support further gold price increases in 2024. Expectations of interest rate cuts in the US, a weakening dollar, and fears of inflation and budget deficits have made gold an even more attractive safe-haven asset. 📈💸
Additionally, political instability, heightened by the recent assassination attempt on former President Trump and the growing likelihood of his return to power, has spurred investors to turn to gold.
Professional investors are once again paying close attention to the precious metal, with money managers holding positions at four-year highs. This indicates strong confidence in the continued rise in gold prices. 📈
Let’s keep an eye on the market and get ready for new records! 📊💰