The continued strong buying pressure from central banks around the world and comment on the recent mini crash that shook the world’s stock markets.

During July, the gold price surged to $2,481, reaching a new all-time high. It then dropped to $2,448, resulting in a total increase of 4.99%. Silver, on the other hand, climbed to $31.69 at the beginning of July, but dropped to $29.04, ending the month with a decrease of 1.4%. Data as of: 24-07-31.

Retail investors in the West, along with strong demand from China and India, are boosting the gold market. Central banks continue to buy in record quantities, setting a new record of 483 tonnes in the first half of 2024, reinforcing the long-term bullish momentum.

Japan’s interest rate hikes have prompted a reevaluation of the yen-carry trade, affecting global markets. Anticipated US rate cuts are expected to drive investment rotations toward interest rate-sensitive sectors, benefiting smaller companies and sectors like mining.

AuAg Funds@AuAgFunds