Caught in the twin grip of elevated US yields and a stronger USD, Gold may be on the defensive over the near term unless geopolitical risks escalate,
economists at HSBC report. Increasing geopolitical risks could help sustain Gold price We are not convinced the rally can be sustained beyond the near term. Oil prices have eased for three days in a row . This may be key, as it is difficult to envisage much greater geopolitical risk-led demand for Gold if Oil prices are easing.
Gold is historically sensitive to US real yields and, while there could be a disconnect in this relationship, it has re-emerged and is likely to weigh further on Gold. As we expect ongoing USD strength, this will likely limit Gold rallies and may even act to press XAU/USD lower. Escalating geopolitical and trade risks are playing an increasingly supportive role in Gold prices, engineering rallies that are likely to stay high in 2024.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD sees upside risks intact, with eyes on the $2,000 markGold price is replicating the recovery moves seen in Asian trading on Tuesday, as buyers jumped back early Wednesday amid a pause in the United States
Read more »
Gold Price Forecast: XAU/USD recovers US PMI-led losses but stays below $2,000Gold price snaps the losing streak, trading higher around $1,970 per troy ounce during the Asian session on Wednesday. The price of the precious metal
Read more »
Gold Price Forecast: XAU/USD rebound above $1,970, investors await US economic dataGold price (XAU/USD) rebounds to $1,970 after bouncing off the weekly lows of $1,950 during the early Asian trading hours on Wednesday. The mild rebo
Read more »
Gold Price Forecast: XAU/USD recovers $1.970, bulls not willing to give upResurgent demand for the US Dollar weighed on Gold price, sending XAU/USD to an intraday low of $1,953.53 a troy ounce during London trading hours. F
Read more »
Gold Price Forecast: XAU/USD recovers $1970 as US business activity improvedGold price (XAU/USD) pares some of its earlier losses and climbs back above the $1970 mark after hitting a new weekly low at around $1953 after the re
Read more »