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Banking Giant’s Comment on Gold

Recent customs tariffs imposed by US President Donald Trump and escalating geopolitical tensions in the Middle East are reflecting on the safe haven asset, gold. Surpassing the $3,015 level as of today, gold has reached its all-time high, strengthening investors’ safe haven demand.

ANZ: GEOPOLITICAL RISKS AND CENTRAL BANKS SUPPORTING GOLD

In a market analysis released by ANZ Bank, it was stated that global uncertainties continue to increase demand for gold. In this environment, Australia and New Zealand Banking Group (ANZ) raised its gold forecast in a research note published today. The bank increased its 0-3 month gold price forecast to $3,100 per ounce, and its 6-month forecast to $3,200 per ounce.

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