Hıımm remember what we shared about it some time ago. We said $4200 is coming when it was $3.700. Now the time has come!
Gold Hits Record High, Eyes $4,200 First Then $4,600
Gold surged above $4,040 per ounce, setting a new record high as global uncertainty and the Fed’s dovish stance drove investors toward safe-haven assets. With the U.S. government entering its second week of partial shutdown, key economic data releases have been delayed, making it harder to assess the economic outlook.
Markets are currently pricing in 25-basis-point rate cuts for both October and December. Political turmoil in France and leadership changes in Japan are further adding to global uncertainty.
Gold has gained more than 50% this year, supported by trade tensions, geopolitical risks, a weaker dollar, and central bank purchases. In September, gold-backed ETFs recorded their largest inflow in three years.
The next targets for gold are at $4,200, followed by $4,600, as the bullish momentum remains strong.