Gold Gains Momentum as Western Investors Drive Bull Market

Western investors have become the driving force behind gold’s recent surge to record highs, shifting from speculative trading to viewing gold as a safe haven.

Analyst Jan Nieuwenhuijs notes that gold exchange-traded fund (ETF) inventories have risen, and the U.K. is now a net importer of gold. This marks a significant change from the past, where Eastern demand and central bank purchases fueled gold’s bull market.

If Eastern buyers return, Nieuwenhuijs predicts a “perfect storm” for gold prices. Some experts, like Adam Hamilton, foresee gold climbing to nearly $3,000 as investors seek safety from stock market and AI bubbles.

Clever Robot News Desk 25^th October 2024