Gold

Key events: Australia - RBA Interest Rate Decision (Oct)                 USA - JOLTs Job Openings (Aug)                On Monday, the Dow Jones Industrial Average closed lower, largely driven by declines in the energy and utilities sectors. This decline coincided with a continued rise in Treasury yields, following the US government's last-minute funding measure to avert a shutdown and keep the government funded for the next 45 days.

In the world of financial markets, certain assets have consistently stood the test of time as reliable sources of value and security. Among these, gold has held a prominent position for centuries, earning its reputation as a safe haven and a store of wealth. As we navigate the year 2023, a landscape marked by evolving economic dynamics and global uncertainties, the allure of gold as a strategic addition to trading portfolios remains as strong as ever.

Key events:        

Key events:        

Key events: UK – Average Earnings Index +Bonus (Sep) UK – Claimant Count Change (Oct) USA – PPI (MoM) (Oct)   The market was swept by another wave – this time of incredible positivity and general joy. Indices are rising very confidently and briskly no matter what, the dollar index is falling, and bond yields have stopped... Many things happened last week. Let's bring it all up in order.

Key events: UK - Construction PMI (Sep) Eurozone - ECB Publishes Account of Monetary Policy Meeting   USA - Initial Jobless Claims Canada - Ivey PMI (Sep)  

Key events: USA - Building Permits (Aug)

Gold is one of the most traded commodities in the world along with oil, natural gas, and grain. But this precious metal is also one of the most interesting assets because it is considered to be a major safe-haven asset and is used to hedge the risk of inflation. In addition, gold is widely used in various industries including jewelry, dentistry, medicine, cell phone manufacturing, etc.

On February 24, at five o'clock in the morning, like Nazi Germany, the army of the Russian Federation invaded the sovereign and the independent state of Ukraine. The open confrontation against Ukraine's statehood was called a "special military operation" by Russian President Putin, which triggered a mixed reaction from financial markets, including the currency, stock, and cryptocurrency ones. First of all, the reaction took place in the safe-haven assets (gold, Swiss franc, and US dollar), which showed considerable gains.

Since it was first used as currency 5,000 years ago, gold has remained the most recognizable symbol and store of wealth. Today, gold's rarity, its universal appeal as a safe haven asset, and the ever-increasing demand from investors and central banks have made it a sensible inclusion in any investment portfolio. So, is gold still a good investment option given the current global economic and political climate? What are gold prices predictions for the future?