Gold prices are currently trading around the $1923 per ounce mark and are experiencing significant increases. Gold has surpassed the important threshold of $1920, with its next target being $1930. Buying is still the main trend.
The support for this precious metal is likely due to the decline in the US dollar and bond yields, as investors await a series of US economic data to gain more insights into future interest rates.
Looking at the long-term outlook, gold could see a considerable price increase as the US economy prepares for a period of very low growth combined with persistent inflation.