📈Gold experiences an upward movement during the Asian session, driven by a technical recovery.📈- warren

📈Gold experiences an upward movement during the Asian session, driven by a technical recovery.📈

Warren's Trading Titans

warren

During the early morning Asian session, gold experienced a probable technical rebound following a decline of over 2% in gold futures on Monday. Citi Research maintains a positive outlook on gold and silver until mid-2024, anticipating significant demand for these precious metals as a safeguard against potential downturns in developed-market equities and real estate, as indicated in a research report by analysts. This perspective is, in part, influenced by Citi's prediction of a U.S. recession by mid-2024, with analysts noting that gold is expected to receive additional support from robust central-bank buying activities. Currently, spot gold has increased by 0.3%, reaching $2,035.37 per ounce.

Last updated: 12/05/2023 06:58

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