Rabobank’s report notes that Gold has seen a significant retracement, ending its record-breaking streak. The precious metal is currently down about 8% from its peak, influenced by market reactions to potential changes in US monetary policy. The report emphasizes the ongoing uncertainty in the market despite concerns over geopolitical tensions.
Gold’s streak comes to an end
“The record-breaking streaks in gold and silver have also ended – at least for now. The precious metals are currently down about 8% and 12% from their peaks, respectively.”
“The retracements are notable, but we wouldn’t say that the debasement trade or diversification from the US have now stopped.”
- Gold keeps the red below $4,700 as USD extends gains ahead of US PPI
- British Pound: Political risk premium builds .
- Gold remains depressed near $4,700 on firmer USD; looks to US CPI for fresh impetus
- British Pound fills weekly bearish gap vs weaker JPY; GBP/JPY steadies below mid-213.00s
- Gold slides to $4,650 as USD benefits from Iran tensions and Fed hike bets
Free Forex Signals 
Leave a comment