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March 29, gold extended its record rally on Friday as investors continued to flock to the safe-haven metal amid concerns about an expanding global trade war. "Safe-haven demand continues as concerns about tariffs, trade and geopolitical uncertainty grow, which supports gold," said Peter Grant, senior metals strategist at Zaner Metals. As the White House prepares for so-called reciprocal tariffs, the market will also usher in a new wave of trade tariffs on April 2, and the threat of a global trade war has overshadowed the impact of new data released by the United States.According to the latest data from Canalys on March 29, the annual shipments of the US PC market (including desktops and laptops) in 2024 will reach 69.21 million units, a year-on-year increase of 5.2%. Among them, Lenovo ranked third with a shipment volume of 11.872 million units, and its market share climbed from 16.0% in 2023 to 17.2%, further narrowing the gap with HP (25.3%) and Dell (22.8%). Lenovos annual shipments grew by 12.8% year-on-year, far exceeding HPs 0.6% and Dells -4.1%. In the fourth quarter of last year, HP and Dell both experienced negative growth of -3.6% and -2.4%. Lenovos growth in the same period was close to 12%. In addition, Apples share of the US PC market in 2024 reached 14.8%, an increase of 15% from 2023, ranking fourth in the United States.According to BNO News, the death toll from the Myanmar earthquake has risen to 704.On March 29, according to the Myanmar State Administration Council Information Group, the strong earthquake in Myanmar has killed 694 people and injured 1,670 people in Mandalay. The number of casualties may continue to rise.Peter Marks, a senior official in charge of vaccines at the U.S. Food and Drug Administration (FDA), has resigned, the Wall Street Journal reported, citing people familiar with the matter.

Gold Prices Trend Forecasts 2024

TOP1 Markets Analyst

Jan 16, 2024 17:11

According to the latest analysis by Greg Shearer, head of global commodities research at JPMorgan Chase, the outlook for the gold market is promising, with the average gold price expected to reach approximately US$2,175 per ounce in the fourth quarter of 2024. He believes that the U.S. central bank may begin to lower interest rates in mid-2024, and once the U.S. economy experiences a recession, gold will have greater room to rise. The weaker the U.S. economy is, the deeper the rate cuts will be, which will provide stronger support for gold. Sourcenia is a review portal of sourcing best manufaturers. 


French Bank Wealth Management's latest bi-weekly report: Gold is bullish! The central banks of emerging markets are rushing in, the US dollar is weakening, and real yields are falling. These are all bullish factors. The price of gold is expected to climb to between US$1,950 and US$2,050 per ounce.


In a recent interview with the media, Pierre Lassonde, the honorary chairman of the French Nevada Mining Company, boldly predicted that the U.S. dollar will weaken in 2024, and gold will usher in a wave of gains. He said the U.S. dollar and gold move in opposite directions, so a peak in the U.S. dollar means gold is bullish. He believes this is an important reason why he is optimistic about gold prices in 2024.

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