Analyst: Gold bar price breaks $1 million, next wave of gold price remains bullish

Golden Ten data, August 23rd news, analysts say that this year seems to be a year of good harvest for gold, driven by lingering geopolitical turmoil, the US presidential election, and the upcoming shift to rate cuts by the Fed. Today, although the gold price has fallen from its historical high, the outlook is still bullish. Currently, a 400-ounce gold bar is worth over $1 million, and the spot price of gold has also reached a new high of over $2,500 per ounce. Global Central Banks have increased their gold reserves, and investors are pouring into gold-backed ETFs. The futures curve shows that the near-term outlook for gold prices remains bullish. History has shown that gold often performs well when yields decline.