Golden data on August 4th, Shengbao Bank's head of commodity strategy, Ole Hansen, said that if economic data continues to be weak, the Spot gold price may quickly touch the $2500 mark. The prospect of a rate cut by the Federal Reserve, coupled with ongoing geopolitical tensions, growing debt concerns, and new demand from the Central Bank and ETF investors, is expected to further pump up the gold price.
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Sheng Bao Bank: Gold price may touch 2500 US dollars due to economic weakness.
Golden data on August 4th, Shengbao Bank's head of commodity strategy, Ole Hansen, said that if economic data continues to be weak, the Spot gold price may quickly touch the $2500 mark. The prospect of a rate cut by the Federal Reserve, coupled with ongoing geopolitical tensions, growing debt concerns, and new demand from the Central Bank and ETF investors, is expected to further pump up the gold price.