Affected by weakening inflation in the United States and economic fluctuations, gold prices have hit new highs

On March 14th, gold futures prices hit new highs one after another, influenced by weaker US inflation data and stock market volatility. On Thursday, the price of NYMEX gold futures approached the $3,000 mark. In the short term, gold prices seem increasingly likely to reach or even exceed the $3,000/oz level, according to StoneX analyst Fawad Razaqzada. Unusually, the rise in gold prices in previous sessions has occurred at the same time as the strengthening of the US dollar, which is usually unfavorable for gold prices. "The only reliable correlation we see with gold is the view on global monetary policy," said FxPro analyst Alex Kuptsikevich. "Weak economies and slowing global inflation are driving gold prices higher." The S & P 500 and Nasdaq have both fallen in recent sessions, prompting investors to turn to gold as a safe haven asset. At the same time, weaker-than-expected US inflation data boosted hopes of a Federal Reserve rate cut, which also boosted gold.