Increased demand for gold as well as the perceived "remonetization of gold" would almost certainly lead to higher bullion prices. Maybe not as high as $10,000, but likely not as low as $2,800.
The market came down last week, and for this week, it's up almost two percent, and it's up $54 for the week. The market pattern is one of lower highs, lower lows.
The best-performing precious metal this past week was gold, despite experiencing its first weekly loss due to tariff threats against Canada and Mexico, set to take effect on March 4.
Gold has failed to take out $3,000, with a high thus far of $2,974. Still, we appear to be on a fresh upward wave from lows seen in November/December 2024.
