Gold prices may lack direction and chop around current levels in the coming days as U.S. dollar strength and rising yields are offset by elevated geopolitical risk premium and recession anxiety. Get your weekly gold forecast from DColmanFX here:
that it is leaning towards front-loading hikes and outlined an aggressive plan to prune its balance sheet to cool down inflation.should be enough to undermine precious metals, which offer no coupons, dividends, or tangible cash flows. But these are not normal times, to say the least.
First, the geopolitical premium built into the market following the invasion of Ukraine has kept prices of some defensive assets afloat. Although the military conflict has not escalated dramatically in recent days, the war is still raging, and its horrors are multiplying. It is difficult to predict how the crisis will play out, but some investors believe that the worst is not over and are therefore reluctant to start trimming safe-haven positions.
are increasingly convinced that the Fed will not be able to lower consumer prices without triggering a. Whether or not those expectations are justified is another matter, but fragile sentiment reflected in high volatility and weakness in equities is prompting traders to hedge against potential downside risks.
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