v0.09 🌳  

Gold Prices Continue to Rise, Analysts Predict Continuous Rally

2024-05-11 12:54:37.651000

Gold prices have been on an upward trajectory, reaching new all-time highs and surpassing $2,300 per ounce [3d938f1d] [640490e9]. The price of Antam gold in Indonesia has also risen, reaching Rp 1,333,000 per gram [106982f3]. This surge in gold prices can be attributed to several factors, including the divergence in economic growth rates, underperforming foreign stock markets, economic instability in China, and investors seeking a safe haven against potential inflation and geopolitical risks [3d938f1d]. Lukman Leong, a Commodities and Currency Analyst at PT Deu Calion Futures, attributes the increase in the price of Antam gold to important economic data from the US and the escalating situation in the Israel-Palestine conflict [106982f3]. Investment banks and analysts have adjusted their expectations for future gold prices, with some remaining bullish on the prospects of gold mining companies such as Newmont, GFI, Franco-Nevada, Agnico Eagle Mines, and Barrick Gold [3d938f1d]. The fluctuating gold price condition is likely to continue, and gold will continue its rally when central banks worldwide start cutting interest rates [106982f3]. Analysts predict that the future trend of gold prices will continue to rise, with the year-end price estimated to reach the range of Rp 1.45 million to Rp 1.5 million per gram [106982f3] [08b63b5e]. While there are differing views on the future of gold prices, the current economic climate and historical trends suggest a positive outlook for the precious metal [08b63b5e].

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.