Channel News Asia (CNA) article features BullionStar explaining gold's recent all-time high
- 14 Dec 2023
Singapore's Channel News Asia (CNA) has quoted BullionStar in an article about the late November and early December surge in the US dollar gold price to new all time highs.
The article, which begins by asking, 'Why did the price of gold hit an all-time high? Here is what five experts have to say' features quotes from BullionStar's precious metals analyst Ronan Manly, who explained that the record high on 4 December - when the gold price hit US$ $2143 - was made possible by two earlier record-high prices at the end of November.
CNA quotes BullionStar's Manly as follows:
"[The all time high] was caused by momentum trading and was triggered by an all-time record high in the monthly close gold price (on Nov 30), and an all-time record high in the weekly close gold price (on Dec 1)."
"Importantly, this November all-time record close signalled a breakout in the gold price on a monthly basis, and drove the momentum which carried on in (Dec 1's) trading session where the gold price continued higher to record a weekly – and daily – all-time high."
"All of these records of monthly, weekly and daily all-time highs in the gold price signalled a gold price breakout, which triggered the price to continue to shoot up on 4 December."
The CNA article, which is by reporter Ashley Tham, is titled "Why the price of gold has surged and where it could go from here" and can be read on the CNA website here.