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State Street’s baseline scenario sees gold price as high as $5,500/oz by Q1 2027
While tactical headwinds such as high yields, a strong dollar and the threat of Fed rate hikes persist, the structural tailwinds of Asian and central bank demand and the need for diversification amid high stock/bond correlation should drive gold prices as high as $5,500 per ounce by March of next year, according to the new Monthly Gold Monitor from State Street Global Advisors. In their review of tactical headwinds, State Street strategists led by Aakash Doshi said gold’s opportunity cost and U.S. dollar strength weighed on investor sentiment in June. “Spot bullion fell 11.7%, testing $4,000/oz support in fits ... (full story)
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From zawya.com | 6 hr ago
Gold rose on Friday and was set for a weekly gain after four straight weeks of declines, as weak U.S. jobs data dampened expectations for a near-term Federal Reserve rate hike. Spot gold was up 1.3% at $4,176.29 per ounce by 1006 GMT, after hitting its highest since June 23. Bullion held above its 21-day moving average and is up over 2% for the week so ...
From tickmill.com | 15 hr ago
Preference: The price is falling toward the pivot at 4,086.91, a pullback support. A bounce from this level could lead the price toward the 1st resistance at 4,410.73, an overlap resistance. Alternative Scenario: If the price breaks below the pivot, it could fall to the 1st support at 4,037.21, an overlap support.
The U.S. dollar slips 0.3% against the yen, with USD/JPY trading at 160.57.
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- Jul 3, 1:07pm | 3 hr ago Posted byFundamental Analysis41
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