Strong upward trend continues for XAUUSD!
Hello everyone, today the price of precious metals has reached a new record high due to the buying activity of central banks in Asia.
A new published report reveals that the People's Bank of China has added 160,000 ounces of gold to its reserves in March. Turkey, India, Kazakhstan, and some Eastern European countries have also been purchasing gold this year, leading to a continued rise in prices.
Despite expectations of changing interest rates, the recent increase in demand for gold will continue until the end of this year due to hidden supply pressures caused by concerns about economic downturn and ongoing conflicts. The new recovery of gold has only just begun, and it won't be long before Western retail investors jump into the market and drive this precious metal to reach new record levels.
A new published report reveals that the People's Bank of China has added 160,000 ounces of gold to its reserves in March. Turkey, India, Kazakhstan, and some Eastern European countries have also been purchasing gold this year, leading to a continued rise in prices.
Despite expectations of changing interest rates, the recent increase in demand for gold will continue until the end of this year due to hidden supply pressures caused by concerns about economic downturn and ongoing conflicts. The new recovery of gold has only just begun, and it won't be long before Western retail investors jump into the market and drive this precious metal to reach new record levels.
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