(Kitco News) The second quarter is already looking better for gold. The precious metal was up almost $50 dollars during the first week of April as it moved past its key resistance level of $1,750.
But what happens next is critical — can gold finally hold above this level as analysts cite strength in the metal’s latest move higher?
Here’s a look at our top 3 stories from this week:
3. After putting breaks on official gold purchases, central banks are once again interested. Hungary tripled its gold reserves to 94.5 tons. This was one of the biggest official gold acquisitions in decades. The central bank referred to gold as “one of the most crucial reserve assets worldwide” as it stressed the need to manage new risks coming from the COVID-19 pandemic, including massive global debt levels and inflation concerns.
2. Gold coins are in high demand as buyers are taking advantage of lower prices. In fact, U.S. Mint just saw its best start to the year in more than two decades. The latest data revealed that the U.S. mint sold more than 400,000 ounces of the popular American Eagle Gold gold coin so far this year, which is up nearly 90% compared to last year.
1. “Real assets appear cheap,” says Bank of America, adding that it might be the time to finally splurge on diamonds, precious metals, real estate, art, vintage cars, and other collectibles. The bank’s analysis showed that real assets are at their lowest level since 1925 relative to financial assets, such as stocks and bonds.