Recently, the global precious metals market has entered a new bullish phase. Data shows that spot gold prices have successfully broken through the critical level of $4,700 per ounce, with an intraday gain of 0.84%. This price movement has attracted significant investor attention.
Market Analysis
Industry experts pointed out that the recent rise in gold prices was mainly driven by multiple factors, including increased geopolitical uncertainty, a weaker dollar, and continued central bank gold purchases.
- Geopolitical risks support safe-haven demand
- Dollar weakness enhances gold appeal
- Central banks increase gold allocations
From a technical perspective, after breaking key resistance levels, market sentiment has turned more bullish, suggesting gold could test new record highs in the near term.