On March 14th, Jinshi data reported that the near-month gold futures contract closed at a historical high, rising 1.5% to $2984.30 per ounce. The price of gold has risen for the third consecutive trading day, accumulating a 3.2% increase. With major stock indices entering or approaching the adjustment range, the gold price has risen to nearly $3000 per ounce. Robert Yawger, head of the US energy futures department at Mizuho Securities, stated in a report that the uncertainty related to tariffs is driving investors to flee to safe assets and pushing up the price of gold. He said, 'Besides holding cash in gold, which has reached a historical high, we have nowhere to hide.'
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Institutions: Besides storing cash in record-high gold, we have nowhere to hide.
On March 14th, Jinshi data reported that the near-month gold futures contract closed at a historical high, rising 1.5% to $2984.30 per ounce. The price of gold has risen for the third consecutive trading day, accumulating a 3.2% increase. With major stock indices entering or approaching the adjustment range, the gold price has risen to nearly $3000 per ounce. Robert Yawger, head of the US energy futures department at Mizuho Securities, stated in a report that the uncertainty related to tariffs is driving investors to flee to safe assets and pushing up the price of gold. He said, 'Besides holding cash in gold, which has reached a historical high, we have nowhere to hide.'