According to a financial news report on March 14 (Editor: Xiaoxiang), Thursday is undoubtedly a historic moment for the Precious Metals market—New York gold futures have risen above $3000 per ounce for the first time in history at the close of the New York session!

As of the time of writing, the New York Gold Futures are reported at $3002.2, briefly surpassing $3003.9 during the trading session.

Over the past five years, the price of Gold has nearly doubled—while the latest trends in the Precious Metals market may indicate a structural shift in the Industry, potentially pushing Gold to continue strengthening in the long term.

Hong Kong Stocks in the Golden Industrial Concept surged today.$CHINAGOLDINTL (02099.HK)$Rising over 8%, $LINGBAO GOLD-1K (03330.HK)$ Increased by over 7%,$ZHAOJIN MINING (01818.HK)$Rising over 6%.

"Gold is in a long-term bull market," said Alex Ebkarian, Chief Operating Officer of Allegiance Gold, "We anticipate that this year Gold prices will fluctuate between $3000 and $3200."

There is no doubt that the recent rise in Gold prices has been driven by increasing uncertainty over tariffs and bets on interest rate cuts by the Federal Reserve this year.

President Trump's erratic trade policies have contributed to the trends of Gold, a safe-haven asset favored by investors during geopolitical and economic turmoil. U.S. Commerce Secretary Ross even proclaimed on Wednesday that a recession would be "worth it" to implement Trump's economic policies.

With a series of economic alarms ringing, the current interest rates futures market has firmly locked in the estimate of three rate cuts by the Federal Reserve this year. Next Wednesday, the Federal Reserve will hold its March monetary policy meeting.

It is worth mentioning that a new trend in the overnight Precious Metals market this week is the widening price gap between New York Gold Futures and spot Gold (London Gold). This seems to be somewhat related to the USA's increased efforts to siphon global Gold.

Data from COMEX inventory shows that on Thursday, as much as 0.41 million ounces of Gold were delivered to COMEX warehouses - almost all of which flowed into the vaults of JPMorgan and Brinks, the largest inflow scale in a month, bringing the total COMEX Gold inventory to an unprecedented 40.56 million ounces.

The Chief Operating Officer and co-founder of Precious Metals dealer Allegiance Gold, Alex Ebkarian, stated that the Gold market is not only reacting to the economic situation but also revealing deeper structural issues that may reshape the Industry - trust in the paper Gold market is "gradually disappearing" (more inclined towards physical Gold).

"Gold is in a long-term bull market, having ignored the adverse factors that may arise from rising USA Treasury yields and short-term profit taking," Ebkarian said, "On the contrary, it is responding to accumulated macroeconomic concerns: declining Consumer confidence, persistent inflation, expanding scope of layoffs, and geopolitical uncertainties surrounding tariffs."

He stated that due to the stock market appearing overvalued and central banks around the world accelerating de-dollarization by increasing neutral Gold reserves, the long-term strength of Gold remains unstoppable.

Ebkarian also mentioned that concerns about tariffs have disrupted the Gold supply chain, prompting large wholesalers and commercial Banks to transfer physical Gold from the London Bullion Market Association (LBMA) and the Bank of England to the USA. However, a larger story "is unfolding beneath the surface."

He pointed out that there are increasing concerns that the LBMA and the Bank of England may not have enough Gold to meet demand, leading to investors hoarding physical Gold. He noted that most Gold Futures contracts are usually settled in cash at expiration, but in January, there was an unusual surge in contracts choosing physical delivery. Although the LBMA reported that the pace of Gold transfer to the USA slowed in February compared to January, it is evident that the shift from globalism to nationalism has prompted many countries to bring Gold back home.

In addition, the recent weakness of the US dollar has also increased the appeal of Gold priced in dollars for holders of other currencies, potentially continuing to support rising Gold prices. Ebkarian pointed out that the postponement of global tariffs, coupled with a record budget deficit of 1.147 trillion dollars in the first five months of the USA's fiscal year 2025, has contributed to the decline of the dollar.

David Russell, the head of Global Market Strategy at TradeStation, stated that the US dollar might have already peaked. If that is the case, the dollar could weaken in the next year or two - which would bring structural Bids for Gold.

It is worth noting that Gold has stood out in the comparison of various cross-asset market situations. For example, the recent rise in Gold sharply contrasts with $Bitcoin (BTC.CC)$the significant drop in .

In addition,$NASDAQ 100 Index (.NDX.US)$Since May 2023, almost all relatively outstanding performances compared to Gold have been wiped out - at that time, the Federal Reserve started to hint at the end of interest rate hikes.

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Editor/Rocky