Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
- One of the most consistent gold bulls in the marketplace is lowering its exposure to the precious metal as a hardy U.S. economy offers better investment opportunities.
"We continue to like gold in a multi-asset portfolio as a long-term beneficiary of the de-dollarization of reserves from the ‘Global South,’" the analysts said in the report. SocGen’s gold position now represents half of its overall commodity exposure. The bank said that they continue to prefer oil over copper in a broader commodity basket.
According to the analysts, global central bank monetary policy, led by the Federal Reserve, continues to dominate market sentiment. The French bank sees the Fed’s tightening cycle quickly approaching the end; however, they said investors should not expect to see rate cuts anytime soon. "Our view is that in the current period of positive economic momentum and given the growing risk of further Fed tightening, equities should continue to outperform bonds," the analysts said.
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