Key Points
LONDON (Reuters) Gold hit a record high on Tuesday, with growing expectation of U.S. monetary easing and continued geopolitical risk buoying activity from momentum-driven funds which could propel the precious metal further...
Central banks have been net buyers of gold for eight consecutive months...
The coming days, especially with the critical economic data releases and (Federal Reserve Chair Jerome) Powells testimonies, will be crucial in determining whether gold can maintain its current trajectory or if well see a period of consolidation, said Alexander Zumpfe, senior precious metals trader at Heraeus...
It means that gold is not going up alone right now and raises a chance of more sustained growth, Ole Hansen, Saxo Banks head of commodity strategy, said.. Platinum and palladium by stark contrast were going in the opposite direction down 1.4% and 1.6%, respectively...
The gold-platinum ratio has reached the highest since March 2020, when the start of the pandemic drove it to a record high.. (Reporting by Polina Devitt and Ashitha Shivaprasad; Editing by Alison Williams)..
