Gold Price Seeks to Break 3,400? How to Choose a Reliable Gold Trading Platform?
Gold and silver have seen a surge in demand, only to be followed by a sharp correction. The gold market has made its fourth attempt to break through the $3,400 mark, but was again thwarted.
Meanwhile, silver has reached its best level in 14 years at $40 per ounce, but the rally lacks sufficient momentum to push through the resistance.
For investors in precious metals, this is definitely a familiar story. Although market fluctuations can be frustrating, it's not unusual. Gold is more sensitive to investor sentiment than silver, and emotions can shift quickly in this volatile market.
The news that the Trump administration and Japanese government are close to reaching a trade agreement has triggered selling pressure on gold. The agreement would impose a 15% tariff on imported goods from Japan.
Some people speculate that this negotiation may lay the groundwork for an agreement with the European Union. On Friday, President Donald Trump said the likelihood of an agreement between the US and Europe is 50/50. The uncertainty surrounding Trump's ongoing trade war has always been the biggest driver behind investor demand for gold, so any potential clarity will impact this demand.
Before the weekend, the China Gold Association (CGA) reported that consumption in the first half of the year fell by 3.54%. As prices rise, consumers are buying fewer physical gold products, including jewelry. However, investment demand remains healthy, with a report from the World Gold Council showing that the value of Chinese gold ETFs increased by $8.8 billion in the first six months.
Analysts at a large commodities firm share one theme: they expect prices to continue affecting physical demand; however, economic uncertainty will continue supporting investment demand, which may drive prices back to historic highs by year-end.
A higher inflation rate and lower interest rates mean that the US actual return is expected to fall before year-end, reducing the attractiveness of US government bonds. Meanwhile, gold shines in a low-yield environment and becomes an attractive diversification tool for investors, as the opportunity cost of holding a non-returning asset is lower.
In this context, gold investment as a viable asset reserve channel has attracted increasing attention from investors at home and abroad, while choosing a reliable gold trading platform is an important step in this process. Hong Kong Gold Investment Co., Ltd. was established in Hong Kong and is recognized by the Hong Kong Gold Exchange as a professional electronic trading firm, member number AA047. The company is committed to providing high-quality and reliable precious metal investment services, with transactions of $1 or more offering a "transaction code" that can be traced back.