Last week, gold smashed past the $3,000 mark for the first time in history.
Some analysts believe the precious metal’s rally could signal a shift in investor sentiment as global markets brace for economic uncertainty.
Why Is Gold Pumping?
In a long thread on X, capital markets analysts The Kobeissi Letter highlighted several factors that have driven gold’s recent rise. According to them, the all-time high isn’t a fluke but the result of a perfect storm. Geopolitical tensions, soaring inflation, and investors’ flight to safety have all contributed to gold’s high-flying performance.
Central banks around the world have been stockpiling the precious metal at record levels, with purchases exceeding 1,000 tonnes for three consecutive years. In the analysts’ opinion, this institutional demand has significantly reduced supply, adding upward pressure on the asset’s price.
Demand for physical gold has also spiked, with inventories in major vaults skyrocketing 115% in just two month
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