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Central banks keep gold bullish long term
Gold’s sharp pullback from record highs has done little to dent its longer-term appeal, with analysts saying central bank demand, reserve diversification and geopolitical uncertainty continue to support the precious metal. Spot gold traded near US$4,328 per troy ounce last Friday, down about US$1,272 from its late-January record high of just below US$5,600, as a stronger US dollar and a “higher-for-longer” US interest rate outlook weighed on sentiment. Despite the correction, market watchers said central bank demand, reserve diversification and geopolitical uncertainty continue to provide structural support for ... (full story)
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- Jun 7, 9:01pm | 2 hr 32 min ago Posted byFundamental Analysis68
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