{"id":121169,"date":"2024-04-15T09:02:51","date_gmt":"2024-04-15T09:02:51","guid":{"rendered":"https:\/\/kinesis.money\/?p=121169"},"modified":"2024-04-15T09:02:51","modified_gmt":"2024-04-15T09:02:51","slug":"gold-tops-2400-ounce","status":"publish","type":"post","link":"https:\/\/kinesis.money\/it\/market-analysis\/gold-news\/gold-tops-2400-ounce\/","title":{"rendered":"Gold Price News: Gold Tops $2,400 An Ounce Mark"},"content":{"rendered":"\n

Gold prices had another go at the upside on Friday, setting a new all-time high of $2,431 an ounce before falling back sharply later in the session.<\/p>\n\n\n\n

Gold garnered all the attention last week, seemingly ignoring the latest round of bearish macroeconomic pointers, with the bulls apparently firmly in control.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

Prices fell back later in the day Friday to around $2,360 an ounce<\/a> in late deals, compared with $2,375 an ounce on Thursday.<\/p>\n\n\n\n

Various theories were in circulation in the latter half of the week regarding gold\u2019s sudden surge higher, from technical factors, to Chinese demand, to wider structural themes around central bank buying and concerns over persistent inflation reducing the purchasing power of fiat currencies.<\/p>\n\n\n\n

Recent data have pointed to outflows in gold-backed ETFs, suggesting that the current bout of increased buying is coming from the physical markets.<\/p>\n\n\n\n

In particular, the negative price impact of a possible delayed start to interest rate cuts this year by central banks appears to have been overshadowed by extremely bullish sentiment around gold as a safe haven asset. This has been exacerbated by worries over the risk of a wider conflict in the Middle East between Iran and Israel.<\/p>\n\n\n\n

The lofty highs reached last week have left markets wondering what is next in store for gold prices, although Friday\u2019s late pull-back may indicate that the strength of this most recent rally is starting to wane.<\/p>\n\n\n\n

US retail sales figures out on Monday may provide more for the markets to chew over, while Chinese industrial production and retail sales figures on Tuesday may give fresh insight into conditions in Asia\u2019s largest economy.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights<\/a>\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices had another go at the upside on Friday, setting a new all-time high of $2,431 an ounce before falling back sharply later in the session.<\/p>\n","protected":false},"author":50,"featured_media":121209,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-121169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Tops $2,400 An Ounce Mark | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Monday 15th of April 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" 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