Central Banks Extend Gold-Buying Streak Into Another Quarter
Official-sector demand stayed robust as reserve managers continued to diversify away from the dollar, underpinning bullion near record highs.
Silver outpaced gold this month, propelled by tight supply, solar-driven industrial demand, and a falling gold-to-silver ratio.
FX and rates analyst covering G10 and emerging markets.
Silver surged to multi-year highs, outperforming gold as a rare dual-demand story took hold.
The gold-to-silver ratio compressed sharply, a move technicians often read as a sign of broadening strength across the metals complex.
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Official-sector demand stayed robust as reserve managers continued to diversify away from the dollar, underpinning bullion near record highs.
Goldman Sachs, JPMorgan, and Citigroup have all raised their gold price forecasts, with the most bullish calls targeting $3,000 per ounce within the next 12 months.
Gold prices surged to an all-time high above $2,400 per ounce, driven by unprecedented central bank purchases and growing geopolitical uncertainty.