Gold Price

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Key events: USA - S&P Global US Manufacturing PMI (Mar) USA - ISM Manufacturing PMI (Mar) USA - ISM Manufacturing Prices (Mar) As the new quarter kicks off, Asian markets prepare to embark on a promising trajectory, bolstered by indications of a gradual easing in US inflation data last Friday and positive macroeconomic figures from China over the weekend. Notably, both the manufacturing and service sectors exhibited an uptick in the closely monitored PMI prints.

Key events: UK - GDP (QoQ) (Q4) UK - GDP (YoY) (Q4) USA - GDP (QoQ) (Q4) USA - Initial Jobless Claims USA - Chicago PMI (Mar) Wednesday saw the S&P 500 achieving a new record closing high, supported by a decline in Treasury yields in anticipation of a speech by Federal Reserve governor Christopher Waller later in the day, which investors hoped would provide insights on inflation trends.

Key events: Japan - GDP (QoQ) (Q4) UK - BoE MPC Member Mann  On Friday, the S&P 500 and Nasdaq experienced a decline after reaching record highs earlier in the session. High-flying chip stocks reversed course, and a mixed labor market report, featuring more new jobs than anticipated coupled with a rising unemployment rate, contributed to the market's retreat.

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Gold, the precious metal that has captivated humanity for millennia, holds an undeniable allure as an investment. Its timeless shine, historical significance, and role as a hedge against economic uncertainty make it a compelling asset for many investors. Yet, the world of gold investments is not without its complexities and challenges. In this comprehensive guide, we will embark on a journey to explore gold as an investment from every angle, shedding light on its unique characteristics, the factors influencing its price, and the diverse opportunities it offers. 

Key events: USA - Trade Balance (Dec) USA - Crude Oil Inventories USA - 10-Year Note Auction USA - FOMC Member Bowman Speaks The S&P 500 made a late recovery from the day's lows as it resumed its journey toward record highs, overcoming a recent setback. The rally, which broadened due to stronger corporate earnings, helped cushion the impact of weakness in tech stocks led by chip-related concerns.

Key events: USA - ADP Nonfarm Employment Change (Dec) USA - Initial Jobless Claims USA - S&P Global Services PMI (Dec) USA - Crude Oil Inventories The US stock indices concluded the second trading session of the year with additional declines, driven by extended profit-taking on Wednesday. This downturn followed a robust finish to 2023, and despite the release of minutes from the Federal Reserve's December meeting, the markets remained subdued.

Global gold prices have reached historic highs this month, extending a year-end surge that may persist if the anticipated slowdown in the US economy materializes, according to a report from the World Gold Council. In its 2024 outlook, the market development group for the global gold industry presented potential scenarios for the upcoming year. The two most likely outcomes - a soft economic landing or a recession - both suggest an upward trajectory for gold prices.

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