-
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)
- Comments / Top
- Subscribe
Trader#BBDE
6 hr ago
Permalink
-
Related Stories
The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving. All other countries will have fair and open use of the Strait. The U.S.A. will be, from this point forward, known as “THE GUARDIAN OF THE HORMUZ STRAIT,” but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World. The process and formation will begin immediately. Thank you for your attention to this matter! President DONALD J. TRUMP
*TRUMP: WE'RE TAKING OVER THE STRAIT OF HORMUZ TRUMP: MAY SEE SHUTDOWN IN SEPTEMBER IF FILIBUSTER DOES NOT END *TRUMP, ASKED ABOUT IRAN REBUILDING: IRAN HAS NO CHANCE *TRUMP: WILL PROBABLY RUN HORMUZ *TRUMP: IRAN DIDN'T GET ANYTHING FROM ME TRUMP: HIT IRAN VERY HARD LAST NIGHT TRUMP: WE'RE GOING TO GET PAID FOR GUARDING STRAIT TRUMP ON IRAN: THEY'RE A BAD GROUP OF PEOPLE - INTERVIEW
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. ...
