🥇 Gold prices hit all-time highs, topping $2,600 last week
The growth has already attracted everyone's attention. And it will continue. Let's take a closer look at the reasons - why is gold growing?
▪️Interest rates in the US are falling. The Fed rate hasn't even started to be lowered yet, and gold is already breaking record after record. Plus the economy is slowing down.
▪️Uncertainty in the economy. No one knows for sure whether the crisis will be serious or will be a mild downturn. At such moments, gold becomes a "safe haven" where people invest money to protect their savings. Therefore, the demand for the precious metal may reach record levels again.
▪️ Geopolitical instability. Against this backdrop, investors choose gold as a reliable protective asset.
▪️ Central banks are buying gold. More and more countries are trying to reduce their dependence on the dollar and are buying gold for their reserves. This creates additional demand for the metal and pushes the price up.
What happens next?
We believe that gold will continue to grow in the near future, because these factors will not go away. So, it is high time to pay attention to it.