O gold closed higher this Thursday (29) for the eighth consecutive session, renewing records on a day marked by volatility. The precious metals market weighed geopolitical uncertainties and the deterioration of risk sentiment abroad, which favored the search for protection.
At Comex, the metals division of the New York Stock Exchange (Nymex), the gold for April ended up 0.27%at US$5,354.80 per troy ounce.
I and silver for March advanced 0.78%at US$114.43 per troy ounce, beating the all-time high of US$121.78 earlier.
Gold started the day with a strong rise and reached its highest historical level at US$5,626.80 overnight, amid operations in Asian markets. However, the golden metal gave back gains early this afternoon and began to fall, reaching a low of US$5,126.00, in a movement that coincided with the deterioration of the New York stock exchanges and the strengthening of the dollar against the euro and pound.
The volatility of the foreign exchange market continued to affect precious metals, which regained strength in the final stretch of the session due to the weakening of the American currency, although far from the day’s highs.
Geopolitical tensions, concerns about the independence of the Fed (Federal Reserve) and expectations of a more dovish policy outlook have reinforced the dollar devaluation trade, says MUFG analyst Soojin Kim.
In the background, there is the . According to the White House, US President Donald Trump has not yet made a final decision on an attack on the Persian country, but will meet with Israel and other allies to discuss the issue. Tehran received a batch of a thousand drones this Thursday, reported the Tasnim.
Global demand for the gold metal is expected to remain strong this year and “even beyond”, driven by lower interest rates, uncertainty in bond markets and persistent risks, the World Gold Council said in a quarterly report.
Société Générale and Deutsche Bank say the precise metal could reach $6,000 per ounce this year, while Morgan Stanley expects prices to rise to $5,700 in the second half of the year.
Among other metals, to platinum for April also reached its highest historical level, at US$ 2,816.60 per ounce, but closed down 0.43%a US$ 2.618,30. O palladium for March fell 1.31%at US$2,018.60, but had an intraday high at US$2,172.50 – the highest level since 2022, according to MarketWatch.
*With information from Dow Jones Newswires
