Dear clients,
Gold prices rose above $1,800 an ounce as China lifted lockdown measures and inflation in the US decline. The metal returned to July levels, having won back a two-year minimum of September.
Gold is up more than 9% this quarter on the back of a dollar retreat and hopes that the Fed will slow down its aggressive monetary tightening.
Markets cheered up after Friday’s data from the US, which indicated lower inflation and consumer spending, which could dampen the need for further rate hikes. A positive signal was the steps taken by the largest consumer of gold, China, to fully return to the market.
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