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Daan Struyven from Goldman Sachs’ global commodities research indicates that economic uncertainties worldwide are increasing concerns about the weakening of the U.S. dollar, consequently boosting demand for gold as a safe haven. This assessment reflects the effects of investors and central banks gravitating towards gold, particularly against the backdrop of additional tariffs imposed by the U.S. President.
Economic Uncertainty and Gold Prices
According to experts, uncertainties and risks in the global economy have caused declines in some assets while increasing interest in safe-haven assets such as gold. Daan Struyven noted that market conditions have supported gold prices with an unprecedented level of caution.
Daan Struyven: “Uncertainty and risks are exerting downward pressure on the U.S. economy. This situation leads to declines in some sectors while triggering significant purchases of gold.”
Investors Increasing Gold Purchases
Amid the current climate of uncertainty, investors and central banks are turning to gold to diversify their portfolios. Rising concerns about the security of the U.S. dollar and Treasury bonds underpin the preference for gold as a safe haven asset.
Struyven predicts that the price of gold will range between $3,100 and $3,300 per ounce this year, adding that market positions are clarifying. The cautious approach of market participants has significantly increased investment demand, despite a reduction in speculative movements.
Data indicates a notable rise in gold demand from ETF investors recently, with central bank purchases reaching record levels. These developments reflect global trends observable in digital platforms and heighten long-term concerns about economic uncertainty.
Currently, the price of gold is trading at approximately $2,994 per ounce, with experts suggesting that the upward trend may continue above this level. The movements of investors provide important clues regarding how economic risks and institutional purchases shape market balance.
