WGC Weekly Markets Monitor: Gold Recorded Notable Bounce

SEATTLE (Scrap Monster): The most recent edition of Weekly Markets Monitor, released by the World Gold Council (WGC), shows a significant increase in gold prices over the past week.

The LBMA Gold Price PM jumped 5% last week to US$3,343 per ounce, according to the data. Compared to other assets, the yellow metal has grown more than any other, with a 28% year-to-date increase. The week saw a high demand for gold as a safe haven due to recent uncertainty around US trade policy, worries about debt, and growing geopolitical dangers worldwide.

According to the WGC assessment, the demand for gold as a safe haven will likely continue to be supported by increased geopolitical risks, uncertainty around US trade policy, and worries about US debt. It should be mentioned that last week, trade tensions increased.

In light of the uncertainties surrounding tariffs, the FOMC minutes are likely to offer more proof of stagflation as the inflation outlook may be revised upward and GDP may be restrained. Variations in Fed cut expectations and the potential for higher PCE inflation could affect sentiment in the short future. However, historical evidence shows that gold does quite well during times of stagflation.

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