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Bullish atmosphere in gold! UBS Group: Next target is $2900, any pullback will be 'short-lived'.
UBS Group indicates that the current call sentiment is strong, while bearish sentiment is absent, and there is still room for gold allocation to rise, which is expected to further drive the gold price higher. Looking ahead, a recession in the USA is the most favorable scenario for gold, while global central banks prematurely easing leading to an economic 'hard landing' will be the most bearish scenario for gold.
Gold "new bull market" coming? More and more Wall Street big shots are bullish up to $3000!
①Analysts believe that gold is currently in a "new call phase"; ②More and more analysts predict that the price of gold will continue to rise, set more new records, and call up to $3000 per ounce.
Gold is rising unusually! Allianz chief advisor: The dollar system is being eroded.
①Mohamed El-Erian, Chief Economic Advisor at Allianz, stated that the continued gold purchases by foreign central banks are an important driver of gold strength; ②The changes in gold prices are not only exceptional in terms of traditional economic and financial impacts. It also transcends the strictly geopolitical influences, forming a more widespread phenomenon that is becoming a long-term trend.
El-Erian: The rise of gold signifies the crumbling of the dollar system.
El-Erian believes that the sharp rise in gold prices "seems to have deviated" from traditional historical influencing factors. Behind the strong buying interest of central banks, it may be that people's confidence in the dollar system is beginning to erode. As "de-dollarization" deepens, it may lead to a severe global system division, weakening the international influence of the dollar and the American financial system.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid Macro Uncertainty, Which Has Been Attributed to Middle East Conflict and the Upcoming US Presidential Election.
Gold's Race To $3,000: Mohamed El-Erian Says US And Other Western Nations Can't Afford To Ignore It
151453268 witso : wow jess you like the shiny stuff too, your posts are always on point and timely . American interest rate direction and the gold price are closely tied particularly as you said about the state of
dollar. There are so many factors providing a tail wind for gold some obvious like the oil price some not so obvious but definitely in play like China, Russia and the Saudi,s toying with a new currency to do business with and buying bulk gold possibly to bankroll it off . Their has to be a great recipe for gold and your insight is definitely part of it
103370157 : at the moment, both newmont and barrick are lagging....
Jessica Amir OP 151453268 witso : I appreciate this and you. Thank you
Danelewis : no I would think wait till there low