Books – Islam Saeed
Thursday, April 20, 2023 02:00 AM
The first quarter of 2023 witnessed strong fluctuations in gold price And recording record levels supported by many factors, one of which is the high actual demand for gold bullion, which resulted from the search for a safe haven due to the banking crisis and the fall of Silicon Valley and Signature banks in the United States, in addition to the Swiss banking giant Credit Suisse, according to the Gold Billion report.
The US Mint announced that demand for gold bullion historically increased during the first quarter and during the month of March, as sales increased by more than 38% in March compared to the same period last year, which is the best performance in the month of March since 2018, and quarterly sales increased by 2% % compared to the first quarter of 2022.
And the technical report continued, it is not surprising to see the strong sales data in March, as investors fled to the precious metal to protect their wealth, as global financial markets witnessed the largest banking crisis since the great financial crisis of 2008.
As a result, the widespread investment demand for gold pushed the price of gold above $2,000 an ounce and stabilized above this area, amid attempts to record a new historical level.
