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Ross Norman of MetalsDaily.com explains what took the gold price to record highs and why the yellow metal has pulled back.
“In a nutshell, if you like, gold has moved higher, significantly higher, to around US$2,100 (per ounce), on quality buying. The last US$200 on top of that arguably is of a vulnerable nature because it’s futures buying,” he said.
This interview was filmed on April 25, 2024.
#Investing #Gold #Silver
0:00 – Intro
0:26 – China’s strong gold demand
5:43 – What changed on March 1?
11:41 – Gold flooding from west to east
14:57 – How important is China for gold?
20:36 – Other gold price drivers to watch
24:32 – Is silver fairly priced right now?
27:41 – Outro
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
