Comex gold futures contract Introduced in February. plus $6.80 to close at $1,935.40/oz
In addition, gold prices were also boosted by expectations that the US Federal Reserve (Fed) will raise interest rates by just 0.25% at its March 31-February 1 meeting following the release of the producer price index (PPI) and Consumer Price Index (PPI) CPI), which shows that inflation has peaked. This will cause the Fed to delay rate hikes.
Analysts at Bank of America expect gold prices to exceed $2,000 per ounce in the coming months. This was triggered by the Fed’s delay in raising interest rates. This will cause the dollar to weaken. and US government bond yields fell
Rising interest rates last year were a factor in the price of gold. by pulling the price down to touch $1,613.60 in September. after hitting $2,069.89 in March
Unweighted by the strong dollar and rebounding US Treasury yields this year. Investors would buy gold as a hedge against inflation and recession.
In addition, gold prices are expected to be supported by gold orders from central banks around the world. Including retail investor demand for gold bars and gold coins.
