Gold continues to strengthen and is expected to achieve its third consecutive week of gains

On April 5th, due to traders ignoring strong US non farm data, gold prices hit a new high and instead focused on the driving force behind three consecutive weeks of gold price increases. After the data was released, gold prices briefly fell, but then rebounded, with an increase of up to 1.5%. Imaru Casanova, portfolio manager for gold and precious metals at Van Eck Associates, said that regardless of whether the market believes the Federal Reserve will cut or increase interest rate cuts, gold does not care. The key factors driving the rise of gold prices are beginning to play a more significant role, and there is greater room for the next round of price increases. The escalation of tensions in the Middle East and Ukraine has increased the attractiveness of gold. After setting a series of records recently, gold prices are expected to rise for the third consecutive week. Silver prices will also achieve a weekly increase, approaching the highest level in nearly three years.