Gold's medium-term fundamentals remain bullish even if prices fall below $1,800 - Analysts gold bullish HuwRoberts
- Gold sentiment is clearly bearish as markets look for the Federal Reserve to maintain an aggressive higher-for-longer monetary policy stance. But analysts are not giving up on the precious metal just yet, with some looking for higher prices by the end of the year.
Despite the headwinds, in his latest research note, Ole Hansen, head of commodity strategy at Saxo Bank, said that he is maintaining his medium-term bullish outlook for gold as he believes the Federal Reserve will be unable to win out against the global rise in inflation. "We are looking for a price friendly 2023 for investment metals supported by recession and stock market valuation risks, an eventual peak in central bank rates combined with the prospect of a weaker dollar as well as continued strong central bank demand," he said.
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