The start of November saw gold pressured by higher opportunity costs and a Republican clean sweep. Stronger bond yields and US dollar, risk-on in equities, a boost to cryptocurrencies and quelling of geopolitical risk might see a near-term retracement in gold.
Gold posted a 3.6% gain in August driven by lower rates and a weaker US dollar. Mixed data releases have made the direction of global economy less certain and gold options indicate that investors may be hedging against a combination of more aggressive rate cuts and US election uncertainty.
Gold posted a 3.6% gain in August driven by lower rates and a weaker US dollar. Mixed data releases have made the direction of global economy less certain and gold options indicate that investors may be hedging against a combination of more aggressive rate cuts and US election uncertainty.
Gold posted a third consecutive monthly gain in May, rising by 2% m/m to US$2,348/oz. Despite the more moderate gain compared to March and April, gold hit a new all-time high of US$2,427/oz mid-month before pulling back – likely reflecting some profit taking.
In April, we saw strong buying from China and central banks, which resulted in gold reaching intra-month highs before pulling back by month-end. Looking forward, stagflation risks are on the rise as growth looks fragile and inflation remains problematic.
Gold continued its slow start, giving back 0.3% in February on a rise in risk appetite and Treasury yields. But a bounce in early March has seen gold hit a new ATH. A Fed meeting with new dot plots and Iranian parliamentary elections are events to watch in March, with monetary and geopolitical uncertainty high.
In January, gold gave back gains after hitting an all-time high at the close of 2023. Looking forward, hot US growth data may delay lower rates, but politics and geopolitics will likely maintain interest in gold.
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Gold Market Commentary: Bonds a no go
Gold Market Commentary: January jitters
Gold gave back less than expected due to a strong dollar and profit-taking, as a positive outlook and higher risk constrained outflows.
Gold Market Commentary: Under pressure
The start of November saw gold pressured by higher opportunity costs and a Republican clean sweep. Stronger bond yields and US dollar, risk-on in equities, a boost to cryptocurrencies and quelling of geopolitical risk might see a near-term retracement in gold.
Gold Market Commentary: Jumbo cut drives gold rally
Gold posted a 3.6% gain in August driven by lower rates and a weaker US dollar. Mixed data releases have made the direction of global economy less certain and gold options indicate that investors may be hedging against a combination of more aggressive rate cuts and US election uncertainty.
Gold Market Commentary: It's always the quiet ones
Gold posted a 3.6% gain in August driven by lower rates and a weaker US dollar. Mixed data releases have made the direction of global economy less certain and gold options indicate that investors may be hedging against a combination of more aggressive rate cuts and US election uncertainty.
Gold Market Commentary: All aboard the rate cut train
August has typically been kind to gold, but seasonal winds are up against strong cross currents, that on balance look much more supportive than not.
Gold Market Commentary: As the buck stops, more bite for gold
Gold posted a third consecutive monthly gain in May, rising by 2% m/m to US$2,348/oz. Despite the more moderate gain compared to March and April, gold hit a new all-time high of US$2,427/oz mid-month before pulling back – likely reflecting some profit taking.
Gold Market Commentary: Higher-for-longer, Inflation not growth
In April, we saw strong buying from China and central banks, which resulted in gold reaching intra-month highs before pulling back by month-end. Looking forward, stagflation risks are on the rise as growth looks fragile and inflation remains problematic.
Gold Market Commentary: What’s the bull case at an ATH?
Gold had a strong March, as futures investors and green shoots from US gold ETFs help drive prices to new all-time highs.
Gold Market Commentary: Select elections and Fed on a dime
Gold continued its slow start, giving back 0.3% in February on a rise in risk appetite and Treasury yields. But a bounce in early March has seen gold hit a new ATH. A Fed meeting with new dot plots and Iranian parliamentary elections are events to watch in March, with monetary and geopolitical uncertainty high.
Gold Market Commentary: Inflation risks seep back in
In January, gold gave back gains after hitting an all-time high at the close of 2023. Looking forward, hot US growth data may delay lower rates, but politics and geopolitics will likely maintain interest in gold.
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