GOLD PRICE ENTERS HOTSPOT REGION WITH NEW ALL-TIME HIGH POSSIBLE
GOLD PRICE ENTERS HOTSPOT REGION WITH NEW ALL-TIME HIGH POSSIBLE
Gold (XAU/USD) has demonstrated an exceptional performance, trading around $3,107 in the early Thursday session.
Since Tuesday morning, the precious metal has rallied nearly 5%.
The current price nears the all-time high of $3,139.90 per ounce, set on April 2, 2025.
President Donald Trump's recent announcement of sweeping global tariffs has introduced significant market uncertainty, prompting investors to seek gold as a safe-haven asset.
In countries like Indonesia, the rupiah's depreciation has led citizens to flock to gold, further elevating demand.
In Indonesia, amid currency depreciation and stock market volatility, gold sales have surged, with daily sales exceeding 65 kg.
In the U.S., traders are demanding physical delivery of gold futures, leading to increased shipments and higher inventories.
UBS has raised its 12-month gold price forecast to $3,000 per ounce, acknowledging gold's role as a store of value amid ongoing uncertainties.
