Gold has made another history with its rise to a new all-time high (ATH) price level. In this respect, gold has touched the staggering $4,800 mark, getting worldwide market attention. As per Watcher Guru, this development indicates that the investors are showing more interest in gold. Additionally, the rally takes place during the increased volatile market conditions.
Gold Claims $4,800 as New ATH as Capital Inflows Rise
The latest market data points out that gold has officially hit the new ATH of $4,800. At the same time, the precious metal also shows a breakout from a twelve-year base in comparison with stocks on weekly and daily levels. This suggests the growth of capital flows into gold, maintaining the long-term bullishness.
Nonetheless, this breakout goes in line with macroeconomic concerns, taking into account inflation persistence, geopolitical risks, and debt expansion. While equities are facing pressure, the precious metal is continuously attracting long-term supporters looking for stability. This sustained momentum underscores its capability to outcompete the others during phases of structural shift in the market.
Gold Futures Surpass $4,750, with Market Cap Adding $15T over 12 Months
Backing this bullish narrative, the gold futures have also made a notable progress. Specifically, the gold futures have jumped above the $4,750 per ounce spot for the 1st time. Additionally, gold is currently over 10% up on a per-month basis. Along with that, over the past twelve months, the precious metal has added a stunning $15T into the market capitalization thereof.
According to Watcher Guru, the milestone of $4,800 confirms a substantial shift in the precious metal’s worldwide market narrative. The development indicates gold’s growing demand and investor reaction to market volatility. Moreover, the breakout highlights the potential of important market developments in the near term.
