“New Bullish Phase”? As gold reaches another high, analysts say more records are in sight

“Gold has entered a new bullish phase, driven by factors such as central bank buying, rising US debt and a potential peak in the US dollar,” market strategist Paul Wong wrote in a note of Sprott Asset Management, after the price of The yellow metal advanced to a new record of $2,700 per ounce on Monday.

Spot gold is currently trading at $2,729.14 an ounce, while gold futures are at $2,741.20.