The recent report from the WGC highlights
that the growth in global gold demand was primarily fueled by robust investment
in the over-the-counter market, consistent purchasing by central banks, and
increasing interest from Asian markets, particularly China and India.
Additionally, the prevailing risk-averse atmosphere and uncertainties related
to geopolitical tensions in the Middle East could further elevate the appeal of
traditional safe-haven assets such as gold.
Gold traders are anticipating new
developments. The upcoming release of the US weekly Initial Jobless Claims on
Thursday and a scheduled speech by San Francisco Fed President Mary Daly, known
for her dovish stance within the US central bank, later in the day, are
awaited. Dovish comments from Federal Reserve officials might limit the
downside potential of gold prices in the near term.
Dr. Kamaran Qader Yaqub,
Financial consultant at Investment Spot company.
