Is Gold On The Verge Of A Spectacular Return To All-Time Highs?

The conflict between Russia and Ukraine is one factor behind the rise, while a sharp decline in global equities and a 50% crash in cryptocurrencies since their peak in November – all accompanied by rapidly surging inflation has stirred up a potent, bullish cocktail boosting Gold’s safe-haven appeal.

So far this quarter, cash has flooded into commodities at a record-setting pace as trader scramble to capitalize on the lucrative macro-driven opportunities unfolding across the markets and seek a hedge against the fastest rise in inflation seen in 40-years.

According to Citigroup, capital inflows into commodities from retail and institutional traders this quarter have totalled a whopping $700 billion – the biggest net inflows on record since the global financial crisis.

This week, Gold received another major boost after western economies slapped sanctions on Russia and removed several Russian banks from SWIFT, the financial payments network that serves as the bloodline for the global financial system.

In response to these sanctions, the Russian central bank said it will start purchasing Gold again on the domestic precious metals market. The central bank’s Gold holdings currently sit at over 2,000 tons, making it the fifth biggest Gold reserve in the world.

Gold is on course for its best quarter since 2007, but the big question now is will prices make a spectacular return to all-time highs?

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.