Hi everybody! Gold just experienced a volatile day yesterday, falling sharply to $2,330 before quickly recovering to $2,392, recording a spectacular increase of $62 in a short time. This strong recovery further reinforces the sustainable appeal of gold in the current context.
In a situation where inflation in the US is rising, the Federal Reserve's (Fed) ability to delay monetary policy changes has increased the strength of gold. Gold appears to be not only sustainable but also strong, despite uncertainties from US economic data.
Despite the US dollar rising against other currencies and US bond yields staying high, gold still shows resilience.
I am still very optimistic about gold's prospects, considering it a safe haven, especially in the context of geopolitical tensions in the Middle East continuing to heat up.