Gold hovers near Record High – Tradingview News

Gold rose over $ 2,980 per ounce on Monday and hovered near record levels with regard to strong demand.

Fresh geopolitical risks strengthened the Bullion prices after the United States had stated that they would continue the strikes against the Houthis of Yemen until they would stop the attacks on shipping in the Red Sea.

In addition, the concerns about an escalating trade war, which was powered by the tariffs between the USA and its large trading partners, further increased the Safe-Haven complaint from gold.

The robust demand from ETFs and persistent purchases of the central bank also supported prices, with China extending its gold acquisitions for a fourth month in a row.

In the meantime, investors are looking forward to a number of political meetings from the central bank later this week, including the decision of the US Federal Reserve.

It is generally expected that the Fed will keep interest rates under uncertainty about President Donald Trump's economic policy.