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Top Banks Say Gold’s Downside Risk Is Running Out of Room
Gold’s sharp pullback since record-setting highs earlier in the year has rattled investors, but some of the most recognizable names on Wall Street are sounding off about a potential turnaround. Over the past few months, there’s been a tug of war between the bulls and the bears over gold’s next move. While recognizing short-term headwinds, major institutions have consistently underscored the metal’s strong long-term fundamentals. At the year’s midway mark, a consensus is starting to emerge from banks, research institutions, and even reserve officials that gold is moving closer to a floor. This convergence ... (full story)
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Gold prices have rebounded from June's sharp correction, but RBC Capital Markets believes investors should be prepared for further volatility before the precious metal resumes its longer-term advance. Gold (XAU/USD) traded around $4,165 after recovering more than 3% in July, following an almost 12% decline in June that briefly pushed prices below $4,000. ...
