EFG Treasury analyst Carsten Menke pointed out that the precious metals market is facing increasing speculative participation. Menke added that since metals such as silver, platinum, and palladium require less capital to leverage price fluctuations, they are more susceptible to speculative transactions and trend followers. He pointed out that this rule also applies to gold to a certain extent. Although Menke believes that America's ousting of Venezuelan President Nicolas Maduro did not have a substantial impact on fundamentals, this seems to have further fueled the bullish sentiment in the market. He said that this bullish mentality indicates that the risk of gold prices is still trending upward.

EFG Treasury analyst Carsten Menke pointed out that the precious metals market is facing increasing speculative participation. Menke added that since metals such as silver, platinum, and palladium require less capital to leverage price fluctuations, they are more susceptible to speculative transactions and trend followers. He pointed out that this rule also applies to gold to a certain extent. Although Menke believes that America's ousting of Venezuelan President Nicolas Maduro did not have a substantial impact on fundamentals, this seems to have further fueled the bullish sentiment in the market. He said that this bullish mentality indicates that the risk of gold prices is still trending upward.