Why Gold Prices Have Climbed to Their Highest Since 2013

Why Gold Prices Have Climbed to Their Highest Since 2013 from Market Watch

Dovish statements from global central banks recently aren’t the only reason for gold’s rise past $1,400 an ounce this week to levels it hasn’t seen in nearly six years.

“Gold is a global market and U.S. monetary policy, while important, is not the only driver of performance,” Juan Carlos Artigas, director of investment research at the World Gold Council, told MarketWatch on Friday.

On the macroeconomic level, there’s “the combination of increase geopolitical tensions and a more accommodative monetary policy stance signaled by central banks, including the [European Central Bank] and the [U.S. Federal Reserve], which have pushed global interest rates lower,” he said.

U.S.-China tensions over trade policy persist as traders await an expected meeting and progress toward a resolution on the trade dispute, between U.S. President Donald Trump and Chinese President Xi Jinping at the Group of 20 leaders summit was June 28-29.

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Mark O'Byrne

I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is prudent. I have been an Executive Director in GoldCore since its foundation and today I am Marketing and Research Director. As our customer base grew both domestically and internationally we were receiving a steady stream of requests from our clients and wider public for detailed analysis of the precious metals market. To meet this demand, I stepped into the Research Director’s role and am responsible for helping to inform and educate our clients and followers on how to protect and grow their wealth through owning gold and silver bullion.