Gold received support for price increase!
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Greetings to all, Today, the price of gold remains around $3035, showing little change from its closing figure last Friday.
The European economy only grew by 0.5% in Q4 of 2023, with growth primarily in countries such as Spain, Italy, and the Netherlands. Meanwhile, Germany, Europe's largest economy, has entered a technical recession, and France has seen no growth. Additionally, the United Kingdom has also entered a technical recession after experiencing two consecutive quarters of negative growth.
Experts suggest that the economic challenges in the European region and the UK are likely to persist amid escalating tensions in the Red Sea, which have impacted the supply chain for goods and production materials, leading to increased costs. This risk elevation has prompted investors to continue buying gold over the past week as a means of capital preservation.
The European economy only grew by 0.5% in Q4 of 2023, with growth primarily in countries such as Spain, Italy, and the Netherlands. Meanwhile, Germany, Europe's largest economy, has entered a technical recession, and France has seen no growth. Additionally, the United Kingdom has also entered a technical recession after experiencing two consecutive quarters of negative growth.
Experts suggest that the economic challenges in the European region and the UK are likely to persist amid escalating tensions in the Red Sea, which have impacted the supply chain for goods and production materials, leading to increased costs. This risk elevation has prompted investors to continue buying gold over the past week as a means of capital preservation.
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