Gold prices reached unprecedented levels in global markets this Friday, fueled by escalating geopolitical tensions and economic uncertainty. Concerns surrounding Greenland and ongoing disputes with the U.S. Federal Reserve are key factors driving this surge.
According to the latest data, the price of gold reached approximately $4,950 per ounce, equivalent to $159.14 per gram. This represents an annual increase exceeding $2,200, a rise described as historic.
Experts attribute this record increase to growing global political and economic risks. Recent events have shaken investor confidence in U.S. monetary policy.
The demand for gold as a safe haven in times of turmoil has also been boosted by ongoing tensions in various geopolitical hotspots.
Financial analysts suggest that heightened political rhetoric against the U.S. Federal Reserve has prompted investors to shift capital away from U.S. bonds and major currencies like the dollar and euro, towards gold.
Analysts believe that pressure on the dollar has increased due to indications of potential interest rate cuts, further enhancing the appeal of gold as a hedge against inflation and market volatility.
Reflecting expectations of continued upward momentum, several financial institutions have raised their gold price forecasts. These forecasts are based on growing demand from both private investors and central banks.
