Gold prices have hit record highs for several days, and bulls are expected to soar to new highs as they continue to fight bravely

On April 8th, spot gold hit a new historical high for several consecutive days, breaking a new record high to $2333 per ounce on Monday. Analysts still maintain a bullish tone. Marex analyst Edward Meir said, "It's hard to say where the gold price will peak, and there are no resistance 'landmarks' on the chart." Despite traditional macro disadvantages such as a strengthening US dollar and rising US real interest rates, gold prices rose 9.3% in March, marking the largest increase since July 2020. Johan Palmberg, Senior Quantitative Analyst at the World Gold Council, said that gold over-the-counter trading and futures markets have been very active, with estimated trading volumes increasing by 40%, "which means there is currently a particularly strong interest in gold." In addition, many analysts predict that once the Federal Reserve starts to lower key interest rates, triggering demand from over-the-counter investors such as physically supported gold exchange traded fund (ETF) holders, gold prices will test new highs.