Just because it's a holiday weekend doesn't mean that the banks aren't still raising their gold price targets. with UBS, the latest to shift to their more extreme scenario.
Gold has maintained its strength after hitting record highs earlier this month, reflecting its enduring status as a safe-haven asset amid global uncertainty.
While the dollar is depreciating rapidly, symbolizing a global decline in confidence, American retail investors remain paralyzed, unable to benefit from gold's spectacular rise.
The S&P 500 saved itself from today's Fed fatigue but finished well off session highs, as investor optimism dulled amid interest rate and tariff uncertainty.
A new historical record bullish breakout for the gold price index as gold bullion prices jumped to the resistance level of $3350 per ounce, the highest in gold.
U.S. markets closed lower due to Nvidia's warning and Fed Chair Powell's remarks. Retail sales rose, while industrial production declined. Asian markets were mixed. Oil prices rose on supply concerns, gold and silver prices fell. Dow futures up, dollar strong.
Highly volatile, Bitcoin needs to be purchased for at least four years, while gold, which is more stable, can be acquired with a shorter time horizon, which in itself is an advantage in the face of economic uncertainties.
