Gold Surges to All-Time High Over $2,140 on Stimulus Bets and Global Tensions
• Gold hits record high of $2,141.59 per troy ounce driven by expectation of US monetary easing and geopolitical risks
• Strong fundamentals supporting gold price include robust physical demand in Asia, central bank purchases, and safe-haven appeal
• Technical analysis shows potential for further upside towards $2,180; critical economic data releases and Powell's testimonies to drive near-term trajectory
• Holdings in gold-backed ETFs continuing to slide for now, with world's largest GLD down 7% year-to-date
• Silver also rallying, hitting highest level since December 2019; platinum and palladium prices going the opposite direction