Gold continues to push higher above $1,880 on Thursday. When geopolitical tensions eventually subside, higher US Treasury yields, a resilient USD, and lower safe-haven demand may hit gold but a floor is close at hand, amid inflation and other risks, strategists at HSCB report.XAU/USD to find a floor this year.“Gold may come under pressure in 2022 amid a shift in monetary and fiscal policies but a floor is close at hand.”
“Real rates will remain negative and a possible rise in trade and geopolitical risks could help gold. Financial market volatility and COVID-19 uncertainties could also trigger safe-haven demand for gold.”“A longer-term source of gold demand could come from central banks, which are expected to accumulate more gold reserves, amid portfolio diversification and risk management.”
GBP/USD clings to daily gains above 1.3600.GBP/USD preserves its bullish momentum and continues to trade in the positive territory above 1.3600 in the second half of the day on Thursday. Mixed macroeconomic data releases from the US failed to trigger a market reaction and the US Dollar Index stays flat below 96.00.
GBP/USD clings to daily gains above 1.3600.GBP/USD preserves its bullish momentum and continues to trade in the positive territory above 1.3600 in the second half of the day on Thursday. Mixed macroeconomic data releases from the US failed to trigger a market reaction and the US Dollar Index stays flat below 96.00.
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