The chief investment officer for multiple assets at Value Partners, Kelly Chung, predicts that gold prices will likely continue to consolidate in the foreseeable future. “Gold prices have stabilised and are still well supported after a few minor corrections from overbought technical levels,” she writes in a note. Gold has been purchased by central banks to lessen their reliance on the US currency and by investors as a hedge against uncertainty surrounding Trump’s proposals. The prognosis for the precious metal will be sustained over time by increased geopolitical uncertainties. Because the dollar’s value as a worldwide trade currency may be declining, investors are worried about the de-dollarization trend, she says. Spot gold has dropped 0.5% to $3,028.84/oz.
Short-Term Gold Price Consolidation Could Continue – Market Discussion
- Date: March 21, 2025
- Time: 11:17 AM
