Gold continues to dominate commodities trading, reaching a peak of $3,500 per ounce in April and currently trading around $3,320. Investors are pouring money into gold-backed ETPs due to uncertainties surrounding Trump’s trade tariffs, economic policies, and global geopolitical risks. While JP Morgan projects gold to exceed $4,000 within a year, some analysts are growing cautious. LBBW expects prices to reach only $3,000 by year-end, citing increased mining supply and already high speculator positions. HSBC’s technical analyst warns that gold’s price has diverged significantly from its 200-week moving average, suggesting potential consolidation ahead.

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5 Signals That Say Gold’s Bull Case Just Got Stronger
Five forces converged this week — a Fed independence fight, an IMF stagflation warning, an Iran ceasefire on a countdown clock, an unusual gold-copper signal, and a silver market drawing down inventory for the fifth straight year. Each one tells a different story. All five point in the same direction.




