PT Solid Gold Berjangka | Gold Hits Record on Fed Cut Outlook and Geopolitical Tension

02:05 01 April in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

GOLD EMAS Spot Gold PT SGB Solid Gold Berjangka Solid Group SG Berjangka

Solid Gold Berjangka | It seems like gold is indeed on a record-setting rally, driven by various factors including Federal Reserve signals, geopolitical tensions, and inflation data. Here’s a summary based on the information provided:

  • Gold Prices: Gold rose to a record high as the second quarter of 2024 began, jumping as much as 0.8% to $2,247.44 an ounce early on Monday. This followed a series of record-setting sessions.
  • Federal Reserve and Rate Cuts: The rally in gold has been supported by the Federal Reserve signaling a potential move towards rate cuts. Data showing that the Fed’s preferred gauge of underlying inflation cooled in February adds to the case for possible rate reductions.
  • Performance: Gold has been one of the better-performing major commodities in 2024, with a gain of more than 8% in the first quarter.
  • Geopolitical Tensions: Tensions in the Middle East and Ukraine have contributed to gold’s appeal as a haven asset.
  • Central Bank and Consumer Buying: Buying by central banks and Chinese consumers has also helped boost gold prices.
  • Current Prices: As of the latest data, spot gold rose 0.7% to $2,245.60 an ounce, with silver, platinum, and palladium also trading higher.
  • Analyst Predictions: Several leading banks, including JPMorgan Chase & Co., have endorsed gold’s positive prospects. JPMorgan specifically mentioned gold as its No. 1 pick in commodities markets, forecasting a potential price of $2,500 an ounce this year.

This information paints a picture of a strong rally in gold prices driven by a combination of economic factors, geopolitical tensions, and market sentiment.