Gold hits new historical high, investors seek safe haven

ANZ expects gold prices to reach $3100 per ounce in the next three months, with a six-month target price of $3200 per ounce.

This forecast reflects the strong demand for gold in the market, especially against the backdrop of concerns about a global economic slowdown.

Gold breaks through the $3000 mark, setting its 14th new high of the year

The price of gold has risen by over 14% since the beginning of the year, making it one of the strongest performing assets in the world. The US government's trade policies have intensified market uncertainty, driving safe haven funds into the gold market.

We maintain optimistic expectations for gold due to rising geopolitical and trade concerns, loose monetary policies, and continued gold purchases by central banks around the world. "- ANZ research report

The US import tariffs have led to a tightening of liquidity in the London spot market, with some gold supply flowing into the US market, resulting in active arbitrage trading. This supply mismatch is expected to take some time to return to normal and may lead to sustained fluctuations in gold prices.

Silver market: Increased volatility, but demand remains resilient

Supply tension intensifies and silver prices fluctuate

Affected by the mismatch of supply in the gold market, the silver market has also experienced fluctuations, leading to an expansion of the price difference between Comex futures and London spot. Industrial demand remains resilient, and despite the challenges posed by trade policies, investment demand remains the key to the rise in silver prices.

ANZ expects silver prices to fluctuate within the range of $34-36 per ounce in the short term.

Market outlook:

Gold market: Short term expected to continue reaching new highs

Main supporting factors: geopolitical tensions, central bank purchases of gold, and loose global monetary policy.

Pay attention to risks: If the Federal Reserve's attitude turns hawkish or inflation decreases, it may suppress gold prices.

Silver market: tight supply or continued support for prices

Supply chain issues have led to increased volatility in silver prices, but industrial demand remains strong.

The future trend still depends on whether investment demand increases, and further catalytic factors are needed to break through $36.

Conclusion: Gold bulls are strong and may impact $3100 in the short term

Gold has hit a historic high 14 times this year, surpassing the $3000 mark, driven by safe haven demand and central bank purchases. ANZ Bank has raised its gold price forecast, expecting it to rise to $3200 per ounce in the next six months. In addition, supply chain mismatches have led to a tightening of liquidity in the London market, further driving up gold prices.

In the current global trade uncertainty and loose monetary environment, gold still has room for appreciation and may challenge the $3100 mark in the short term.