Gold prices still have room to rise after hitting all-Time h "... Gold prices still have room to rise after hitting all-time highs early this month, as several central banks continue to purchase bullion in record amounts.
These purchases have strengthened gold prices despite high interest rates and a strong dollar, market watchers told CNBC.
Higher rates tend to reduce the appeal of gold compared with bonds as it does not pay any interest, while a stronger dollar erodes the sheen of greenback-priced bullion for holders of other currencies.
“Central banks, who have bought historic levels of gold over the past two years, continue to be strong buyers in 2024 as well,” World Gold Council Global Head of Central Banks Shaokai Fan said. ..."
https://www.cnbc.com/2024/03/21/gold-prices-have-hit-record-highs-heres-why-they-could-rally-further.html