On March 14th, Jinshi data reported that due to the weak US inflation data and stock market Fluctuation, the price of gold futures has repeatedly hit new highs. On Thursday, the NYMEX gold futures price once approached the $3000 mark. StoneX analyst Fawad Razaqzada stated that in the short term, the price of gold seems increasingly likely to reach or even exceed the level of $3000 per ounce. Unusually, the pump in the price of gold in the previous few trading days occurred while the US dollar was strengthening, which is usually unfavorable for the price of gold. FxPro analyst Alex Kuptsikevich stated: “The only reliable correlation we see with gold is the view on global monetary policy.” “Weak economic conditions and global inflation slowdown are driving the pump in the price of gold.” The S&P 500 and NASDAQ indices have both declined in the past few trading days, prompting investors to turn to gold as a safe-haven asset. At the same time, weaker than expected US inflation data has boosted hopes of a Fed rate cut, which has also boosted gold.
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