Gold price over $ 2,700: What drives the climb?

Gold price over $ 2,700: What drives the climb?

USA - The gold market has gone through a remarkable development because the price for gold has increased over the $ 2,700 mark. This movement is the result of various economic and geopolitical factors that have caused investors to trust the precious metal.

A decisive factor here are the high geopolitical risks and the continuing prospects for falling interest rates in the USA and Europe. The Bank of America recently pointed out that the US budgetary policy is not viable in the long run. Metal strategist Michael Widmer warned that the United States could be confronted with a record -seaming debt mountain within three years. This has created new impulses for buying gold, as many investors invest in gold in times of uncertain economic outlook.

Current market development

On Friday morning, the gold price showed a significant increase and reached a price of $ 2,726.80 per trulner ounce until 8 a.m. (CEST). For many market observers, this increase of $ 19.30 was a sign that the interest in gold is still high. In the afternoon, important economic indicators of the real estate market in the USA and speeches of several US Federal Reserve were also on the program that could further heat the interest of investors.

Another important event that could draw attention to the gold market is the commitments of Traders report by the US supervisory authority CFTC. These reports often show moody optimism under large appointment speculators, which could also influence the gold price.

In the meantime, the oil market is also developing. This shows a mini relaxation, but the oil price could come under pressure in view of a weak demand from China and the impending increase in oil production by Saudi Arabia. The current price increase of WTI and Brent by $ 71.06 or $ 0.34 to $ 74.79 could not be sufficient to compensate for the potential losses from the previous weeks. The oil market is therefore faced with a high weekly loss forecast, while the gold price remains in motion and attracts potential buyers.

summarized, the current developments on the raw material markets are characterized by both geopolitical and economic factors that significantly influence both the gold and the oil price. Future data and reports could continue to keep the markets in turmoil, while investors are looking for secure systems.

For deeper insights into the gold and oil market, it is recommended to take a look at the comprehensive analyzes and reports, which among other things from www.finance.net are provided.