The actions of gold mining companies jumped this Wall Street Wednesday, February 5, carried out by a new historic gold record at 2,869.68 dollars on Wednesday. This spectacular increase intervenes in a context of a rekindled trade war between Washington and Beijing, pushing investors to refuge values.
A generalized flight of the gold mining values
The main gold mining companies listed in the United States have recorded significant gains as soon as the markets are opened. Newmont and Barrick Gold, the giants in the sector, increased 1.1 % and 1.3 % respectively.
South African minors also took advantage of this dynamic, with Gold Fields up 2.5 %, while Canadian companies Agnico Eagle Mines and Kinross Gold gained 1.3 %and 1.7 %.
This remarkable performance is explained by the outbreak of the golden price, which reached a new historic summit at $ 2,869.68 per ounce at the start of the session. The yellow metal fully benefits from the fears aroused by climbing trade tensions between the United States and China.
Analysts underline That this trend could continue, global demand for gold increased by 1 % in 2024, according to the World Gold Council. Massive purchases of central banks, which exceeded 1,000 tonnes for the third consecutive year, also support the market.
A gold rush supported by global uncertainty
The recent climbing of trade tensions between the United States and China has played a decisive role in this increase. Following the new American tariff measures, Beijing quickly retaliated by imposing its own customs duties on American imports. This situation was exacerbated by the declaration of President Donald Trump, indicating that it was not in a hurry to speak with President Xi Jinping to appease tensions.
Analysts of Heraeus Metals Germany emphasize that fears of a global recession and an increase in inflation, fed by this trade war, push investors to gold as a refuge. This trend is reinforced by the warnings of three managers of the federal reserve concerning the potential impact of customs tariffs on inflation.
In conclusion, the rush of central to gold banks intensifies against the backdrop of increasing geopolitical tensions. Stonex Rhona O'Connell analyst warns, however, that the precious metal shows signs of overcache, his relative force index of 76 largely exceeding the critical threshold of 70. A short -term correction seems likely, despite fundamentals that remain solid .
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