Gold Edged Lower While Trump Was Undecided on Attacking Iran
By the end of last week, the price of gold had dropped to $3,368. Despite the drop, the global economic backdrop continues to favor the precious metal, with rising geopolitical tensions and increasing demand from central banks providing support. Results from an annual survey conducted by the World Gold Council also highlight increasing interest in gold accumulation. Seventy-three central banks participated in the survey, with 40% of them revealing that they planned to increase their gold holdings over the next year. 72% of central banks also expect gold’s share in global reserves to grow over the next 5 years, the…