Gold: Moderately optimistic view - NAB
|Analysts at NAB are moderately optimistic on gold, and have retained their year-end target of US$1350/oz.
Key Quotes
“Gold has been trading around US$1300/oz. Its fortunes have ebbed and flowed largely in line with movements in the US dollar. Further, news developments surrounding a possible US-China trade deal have also been an important driver.”
“After boosting their net long positions in gold by the end of March, hedge funds and money managers reduced their holdings in early April. Conversely, governments continue to accumulate gold, with China purchasing 11.2t in March – the 4th consecutive month of purchases.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.