by Ines Ferré
Yahoo! Finance
Wall Street’s bullishness on gold doesn’t appear to be wavering as the precious metal hit yet another all-time high.
On Tuesday, futures (GC=F) made their 19th intraday record of the year, surging above $3,170 per ounce before paring gains ahead of President Trump’s reciprocal tariff plan announcement expected on April 2.
“Within the commodities complex, long Gold presents the obvious hedge for risky market exposure in our view, especially since the bullish medium-term trend dynamics remain firmly intact,” JPMorgan analysts said in a note on Tuesday.
Most notable is the rapid pace at which gold has risen, notching its best quarterly performance in nearly 40 years.