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Saturday, June 22, 2024

A safe haven in times of crisis

By Tue Nhien

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In response to recent market volatility, an increasing number of investors are turning to SJC gold bars for trading opportunities. These investors anticipate a substantial rise in gold prices as they closely track international geopolitical developments. Prices soar amid geopolitical tensions In the trading session ending on October 14 (Vietnam time), global gold prices surged by 3.3%, or more than US$62 per ounce, the biggest single-day spike in three months. Over the course of the week, prices climbed nearly 6.2% to US$1,932 per ounce. This surge in gold prices is attributed to renewed geopolitical tensions worldwide. Ongoing military conflicts, such as between Russia and Ukraine, and between Israel and Hamas, indicate the potential risk of global warfare. Israel’s close ties with Western nations and the support for Hamas of some Islamic countries further contribute to this uncertainty. Additionally, a military coup in Niger in mid-August has not only destabilized the nation but also raised concerns about the possibility of similar coups in neighboring countries. The regional security landscape remains unpredictable, with various factions receiving support from different European countries. The growing apprehension of a widespread global crisis has bolstered the gold market, as investors seek refuge in this asset during […]
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