Gold to retest $2000 and record new all-time highs – Standard Chartered


Gold is expected to see most of its gains in the first half of this year, Standard Chartered Precious Metals Analyst, Suki Cooper, said in her latest client note.

Key Quotes (via Kitco.com)

"We maintain a positive view on gold; expect prices to retest USD 2,000/oz threshold and reach new highs.”

"We believe the bulk of gold gains are likely to materialize in the first half of the year."

"Investors will continue to allocate into gold, given the likelihood of a weakening USD, real yields remaining negative, accommodative monetary policy, further fiscal stimulus, and rising inflation expectations.”

"Gold is caught between conflicting macro drivers amid a weak physical market.”

"A key question in 2021 is just how 'sticky' the metal held across ETPs is and whether holdings have peaked. Flows initially turned positive in January, and ballooning government debt and concerns around inflation are likely to prompt both tactical and strategic investors to look for buying opportunities.”

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.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD rises above 1.2150 amid upbeat German data

EUR/USD has been rising above 1.2150 after the German ZEW Economic Sentiment gauge beat expectations with 84.4 points. Earlier, concerns about inflation boosted the dollar. 

EUR/USD News

GBP/USD trades off the highs amid risk-off mood, ahead of Bailey

GBP/USD is trading above 1.41 but off the fresh highs. The safe-haven dollar is gaining ground amid fears of inflation. UK PM Johnson's announcement of additional easing of restrictions boosted the pound on Monday. BOE Governor Andrew Bailey is set to speak later on.

GBP/USD News

200-DMA might cap XAU/USD ahead of US CPI on Wednesday

Gold refreshed multi-month tops on Monday, albeit lacked any strong follow-through buying. A modest USD rebound held bulls from placing fresh bets and kept a lid on any further gains.

Gold News

SHIB price skyrockets as Binance Lists Dogecoin rival Shiba Inu

“DOGE killer” Shiba Inu coin has reached a new all-time high as it rides on bullish momentum from recent crypto exchange listings. SHIB price has climbed by over 2,260% in the past week, as many investors missed out on the Dogecoin pump.

More Crypto News

Nasdaq (NDX QQQ) Technical view, key chart levels, Nasdaq tests trendline support

The Nasdaq is trading nicely from resistance to support. Friday's rally stalled at the convergence of the 9 and 21-day resistance. Monday sees the resistance work well and so the Nasdaq sells off and currently finds support at the lower trendline seen in the chart below.

Read more

Forex MAJORS

Cryptocurrencies

Signatures