As the international gold price skyrocketed, people in several Asian countries really rushed to buy bullion – and in the morning, shops were sometimes closed by noon. Vietnamese in some cities had been queuing since dawn when legislation finally lifted the state monopoly on gold circulation.
Meanwhile, the price of gold has already passed the $4,300 per ounce mark and continues to hit all-time highs.
Rising expectations of Fed interest rate cuts and tensions between the US and China have pushed investors to “safe havens” – gold has become a safe-haven asset. Amid inflationary pressures and market volatility, the precious metal is back in investors’ focus.
In Australia, at the peak of gold prices, plots and rivers traditionally used by amateur panners (washing gold in river streams) are once again attracting attention. Some are making hundreds of dollars in just a few hours. This phenomenon is getting media coverage as a” gold Renaissance” not only in the corporate sector but also with mainstream investors.
Earlier, the Experts Club think tank presented an analysis of the world’s leading gold producing countries in a video on its Youtube channel – https://youtube.com/shorts/DWbzJ1e2tJc?si=YuRnDiu7jtfUPBR9.