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Goldman still bullish on gold, China underpinning demand outlook
Goldman Sachs said it remains bullish on gold in a note on Monday, citing both potential Fed rate cuts and China's unwavering demand as key drivers, which have helped push gold prices to record highs. This positive outlook comes despite rising US interest rates, which usually tends to lower gold prices. While the Chinese market is sensitive to price fluctuations, the brokerage sees structural changes creating an "unshakeable bull market" for gold in China. Lower interest rates and rising economic uncertainties are boosting demand, even as surging prices cool jewelry purchases. Additionally, China's central bank has ... (full story)
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- Posted: Jul 23, 2024 11:12pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 214
