Besides that, they point out Fed rate cuts and the fact that real yields continue to stay under pressure as being two other major supportive factors. And amid the US administration's incoherent policy making, gold is also being viewed as a proxy for FX reserve diversification away from the dollar itself. In that lieu, Credit Agricole points to data showing EM central banks stocking up on gold. Well, I'd add on to say that it's not just them as China has been on this trend for more than a year already.
There won't be any rebuttals on that front from me. I'm a gold bull and that hasn't changed whatsoever. The only downside I can imagine for gold will be a technical pullback/correction. But even then, that will just invite more stocking up and buying on dips.
This article was written by Justin Low at investinglive.com.Hence then, the article about gold remains well supported as upside risks stay the course credit agricole was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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