Gold Price Forecast: XAU/USD prospects remain positive as investors bet on lower interest rates – Scotiabank
Source Fxstreet
Gold remains firm after making a marginal new high for the move up earlier. Economists at Scotiabank analyze the yellow metal’s outlook.
Gold strength and a firm USD look a little odd; something may have to give
Prospects remain positive as investors bet on lower global interest rates, perhaps look for diversification opportunities away from elevated stocks or, in the case of central banks, continue to reduce exposure to the USD (net central bank gold purchases have grown strongly in the past two years, reports indicate).
Broadly, history suggests higher Gold prices are usually associated with a softer tone in the USD so Gold strength and a firm USD look a little odd; something may have to give.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Fed Governor Waller claims the crypto craze has faded, while Bernstein backs Bitcoin to reach $150,000 this year.On Tuesday (February 10), the cryptocurrency market remained sluggish; wit
Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
Bitcoin price rebounds above $70,000; Cathie Wood calls a "potential bottom" again, but the reality may differ.On Monday (February 9), Bitcoin ( BTC) price momentum has stalled, fluctuati
TradingKey - Spot Silver ( XAGUSD) prices have continued to decline; on Thursday, silver plummeted as much as 20% to break below $71 per ounce, and on Friday the sell-off intensified as prices fell fu
Bitcoin is trading around $63,000, down nearly 40% from its peak near $126,000Wall Street desks are no longer talking about upside dreams. The talk right now is how far Bitcoin charts could fall if selling keeps piling up. According to data from TradingView, Bitcoin’s price now sits at a shocking $63,500, after falling from $70,000 just this morning, losing $13,000 in 6 days, and staying far below […]
Wall Street desks are no longer talking about upside dreams. The talk right now is how far Bitcoin charts could fall if selling keeps piling up. According to data from TradingView, Bitcoin’s price now sits at a shocking $63,500, after falling from $70,000 just this morning, losing $13,000 in 6 days, and staying far below […]
Related Instrument
