{"id":52168,"date":"2024-10-02T17:00:00","date_gmt":"2024-10-02T15:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=52168"},"modified":"2024-10-02T17:06:57","modified_gmt":"2024-10-02T15:06:57","slug":"gold-prices-hold-near-record-highs","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/gold-prices-hold-near-record-highs\/","title":{"rendered":"Gold prices hold near record highs"},"content":{"rendered":"<div class=\"component text\">\n  <div class=\"container\">\n\n\n    <div class=\"row\">\n      <div class=\"col  col-lg-8  offset-lg-2\">\n        <h3><b>Driven by the start of interest rate cuts by the Federal Reserve and instability in the Middle East, gold prices remain near the all-time high reached last week, which marked a 29% increase since the beginning of the year.<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Geopolitical tensions and changes in monetary policy <\/span><b>maintain gold&#8217;s appeal as a hedge against uncertainty<\/b><span style=\"font-weight: 400;\">. The price of the golden metal had reached a new all-time high of \u20ac2,430 per ounce on Thursday last week, marking a 29 per cent rise since the beginning of the year, the highest increase in the past 14 years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After experiencing spot volatility in recent days, Tuesday&#8217;s Iranian retaliation and Israel&#8217;s invasion of Lebanon are raising <\/span><b>fears that this armed conflict will escalate into a wider regional war<\/b><span style=\"font-weight: 400;\"> and keep gold prices higher.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Retail consumers in key markets respond to rising prices by <\/span><b>selling their gold holdings to capitalise on the gains<\/b><span style=\"font-weight: 400;\">. \u2018Physical demand is slowing as investors are hesitant to buy at record prices, but momentum trading continues to drive futures demand,\u2019 says commodity strategist at derivatives platform Saxo Bank, Ole Hansen.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>Fed cools expectations of big cuts<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Federal Reserve Chairman Jerome Powell&#8217;s recent remarks at the National Association for Business Economics conference <\/span><b>dampened hopes for aggressive future rate cuts<\/b><span style=\"font-weight: 400;\">, reducing analysts&#8217; forecasts for a 50 basis point cut from more than 60% last week to just 37% on Wednesday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Powell noted that further moves are <\/span><b>likely to be limited to quarter percentage point reductions<\/b><span style=\"font-weight: 400;\"> and added that \u2018this decision reflects our growing confidence that, with an appropriate recalibration of our monetary policy, the strength of the labour market can be maintained at one around moderate economic growth and inflation moving sustainably down toward our objective\u2019.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, China&#8217;s economy remains sluggish, which has prompted its central bank, the People&#8217;s Bank of China (PBoC), to<\/span><b> take additional measures to stimulate the economy<\/b><span style=\"font-weight: 400;\">, spurring flows into its booming stock market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The current rise in gold prices against <\/span><b>declining physical demand reflects significant global economic changes and geopolitical tensions<\/b><span style=\"font-weight: 400;\">. As markets digest these complex factors, investors will closely monitor developments in the Middle East and the release of upcoming economic data.<\/span><\/p>\n<p><b>To discover the best option to protect your savings, go to <\/b><a href=\"https:\/\/serveis.11onze.cat\/en\/preciosos-11onze\"><b>Preciosos 11Onze<\/b><\/a><b>. We will help you buy the ultimate safe-haven asset, physical gold, at the best price.<\/b><\/p>\n\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<div class=\"component cards\">\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col col-xl-8 offset-xl-2\">\n        <h1>If you liked this article, we recommend:<\/h1>\n        <div class=\"cards__wrapper\">\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/good-time-buy-gold\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2024\/09\/THUMBNAIL_Comprar_Or-768x512.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Economy<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Is this a good time to buy gold?<\/strong><\/p>\n              <span class=\"card-time\">2 min read<\/span>\n              <p class=\"card-text small\">The price of gold continues the upward trend seen since&#8230;<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/magazine\/xina-crisi-immobiliaria-febre-or\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2024\/09\/THUMBNAIL_Sector_Immobiliari_Xines-768x512.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Economy<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>China: from housing crisis to gold rush<\/strong><\/p>\n              <span class=\"card-time\">2 min read<\/span>\n              <p class=\"card-text small\">With prices soaring to record highs, the Chinese are&#8230;<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/litigation-funding-time-make-money\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2024\/09\/THUMBNAIL_Financa_Litigis_guanyar_diners-768x512.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Economy<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Litigation Funding: it\u2019s time to make money!<\/strong><\/p>\n              <span class=\"card-time\">2 min read<\/span>\n              <p class=\"card-text small\">After the latest ECB rate cut, Spanish banks have reduced&#8230;<\/p>\n            <\/div>\n          <\/div>\n\n              <\/div>\n              <br>\n              <br>\n              <div class=\"cards__wrapper\">\n\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":71,"featured_media":52155,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"content-type":"","footnotes":""},"categories":[1],"tags":[172],"class_list":["post-52168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold prices hold near record highs -11Onze<\/title>\n<meta name=\"description\" content=\"Gold prices have reached new all-time highs and are up 29% since the beginning of the year. 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