Gold: Sentiment stabilizing after sell-off – OCBC Bank
|The report from OCBC Bank, authored by Sim Moh Siong and Christopher Wong, notes that Gold and Silver have rebounded due to dip-buying interest as liquidation pressures eased. However, sentiment remains cautious, and the report anticipates consolidation rather than a trend reversal. The year-end forecasts for Gold and Silver remain at USD5,600/oz and USD133/oz respectively.
Gold and silver rebound on dip-buying
"The rebound suggests that forced selling and margin-related liquidation pressures may have faded, at least for now."
"While positioning has likely reset to some extent, confidence may not have fully restored, pointing to a potential period of choppier, two-way trading."
"We stick to our year-end forecasts for gold and silver at USD5,600/oz and USD133/oz respectively."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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