A significant increase in gold prices !! Towards the best weekly performance for more than a month

A significant increase in gold prices in light of the increasing global concerns about the stability of the American financial system and the decline in the value of the dollar. Gold continued to record strong weekly gains, which enhances its position as a safe haven in times of crisis, and pushes investors around the world to reconsider their investment strategies. A significant increase in gold prices The gold futures for the month of August on the “Comics” exchange increased by 1.04% to record $ 3358.30 an ounce, while immediate contracts increased by 1.10% to reach $ 3330.60. This week, the gains of gold this week reached about 3%, in its best weekly performance since last April. This ascension did not come from a vacuum, but rather as a result of the interaction of several political, economic and financial factors that reflect the volume of escalating anxiety in the global markets. The US dollar declined a key factor in supporting gold The US dollar index decreased significantly this week, as a result of the escalation of expectations that the US Federal Reserve may have to retract the policy of continuous cash tightening, in light of the recent weak economic data and high levels of debt and deficit. This decline in the dollar has strengthened the demand for gold, especially since the decline in the value of the dollar makes the yellow metal cheaper for other currencies, which increases its demand globally. Fears of the American financial deterioration return gold to the forefront, Tim Water, the chief market analyst at KCM Trade, said the markets have started to lose their confidence in the ability of the American administration to manage public debt. He pointed out that the lack of clarity in the path of US fiscal policy, as well as the escalation of geopolitical tensions, brought the gold to the interface as an effective frustration tool. “It is likely that gold will settle above the level of $ 3000 an ounce in the coming period, driven by several factors, most notably: the American debt crisis, customs duties, and the increasing geopolitical tensions,” Waterwar added. Geopolitical tensions support the demand for gold as well as economic fears. There is a set of geopolitical tensions that cast a shadow over the markets, including: the continuation of the war in Ukraine and the escalation of tensions between Russia and the West. The escalation in the South China Sea between the United States and China. The growing tension in the Middle East, especially between Israel and Iran. All of these factors pushed investors to search for safe assets that preserve the value of their investments, and gold highlights in the forefront of these options. Market expectations: Is the significant increase in gold prices continues to collect technical and financial analyzes that gold may continue its gains if the dollar continues to pressure, and the markets continue to absorb the risks associated with the American and global economy. Some analysts set new price goals for more than $ 3,500 an ounce if the upward trend continues, especially if the American Federal Reserve installed the interest or lowering it later this year. How is gold affected in Lebanon? Gold prices are globally, it is reflected immediately on the Lebanese market, especially in light of the local gold price connection to the dollar in the black market. The Lebanese markets are witnessing a growing demand for the purchase of gold as a means of storing value, in light of the deterioration of the national currency and the lack of confidence in the banking system. How much is the price of gold in Lebanon in dollars today, the price of gold in Lebanon today has recorded the prices of the gold lira in Lebanon in dollars, a noticeable increase in parallel with international prices, amid expectations of more rise if economic pressure continues at home and abroad. A significant increase in gold prices !! Gold in front of a new stage of ascension? In light of the political and economic uncertainty and the exposure of the fragility of the American financial system, gold is heading to a new stage of concentration as a pivotal investment asset. It appears that all indicators are in favor of the continuation of the yellow metal for its fixtures, which restores the periods in which the gold exceeded the barrier of $ 2000 and then 2500 dollars, to the new summit that looms on the horizon.

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