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Safe-Haven Demand Keeps XAU Resilient, Says MUFG
MUFG believes gold remains well supported despite higher US Treasury yields, arguing that persistent geopolitical tensions are generating enough safe-haven demand to offset the headwinds from a more hawkish interest-rate outlook. The price of Gold in US dollars (XAU/USD) traded around $4,100 on Friday after extending its rebound from recent lows below $4,000, with investors continuing to favour the precious metal as conflict in the Middle East shows little sign of easing.The Gold price has recovered steadily over recent sessions as geopolitical risks intensified following continued US strikes on Iran, renewed threats ... (full story)
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From fxleaders.com | 2 hr 9 min ago
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