EBC Markets Briefing | Bullion risks pullback on a small rate hike

Gold stayed close to last week's record high, up 25% this year and breaking multiple records as a top-performing commodity.
EBC Financial Group | 176 дней спустя

Gold traded near the record high it hit last week. The precious metal has been one of the strongest performing major commodities this year, surging by about a quarter and hitting successive records.

Goldman Sachs reiterated its optimistic outlook on gold prices on Monday, citing central bank demand and the imminent interest rate cut from the Fed at its policy meeting this week.

Gold may face a minor, near-term setback in the case of a 25-bp cut this week, but the metal will subsequently rally to a record aided by rising flows into bullion-backed exchange-traded funds, according to the bank.

Global holdings in bullion-backed ETFs have rebounded in recent months after sinking in mid-May to the lowest since 2019, according to a Bloomberg tally. But they remain about 25% below the peak set in 2020.

China's central bank held back on buying gold for its reserves for a fourth straight month in August, official data showed. The central bank was the world's largest single buyer of gold in 2023.

Analysts expect to resume purchases at some point despite high prices due to political, rather than economical motivations, such as its desire to be less dependent on the greenback as a reserve asset.

Bullion lost momentum at $2,590 so buyer will hardly gain acceptance above the level in the short term. That being said, its bullish bias was evident with the price well below 50 EMA.

EBC Institute Perspectives Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC International Business Expansion or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Регулирование: FCA (UK), ASIC (Australia), CIMA (Cayman Islands)
read more
Crypto: just a bumpy downtrend

Crypto: just a bumpy downtrend

Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto: just a bumpy downtrend
FxPro | 1ч 46мин назад
Bitcoin vs Gold in 2025: The safe-haven showdown intensifies

Bitcoin vs Gold in 2025: The safe-haven showdown intensifies

As financial uncertainty looms over 2025, the age-old debate resurfaces: Is gold still the ultimate safe-haven asset, or has Bitcoin finally earned that title? Recent price fluctuations have reignited discussions, with Bitcoin holding near $81,000 after a modest 2.6% decline, while gold surged past $2,917 as investors sought stability amid economic concerns.
Deriv | 4ч 21мин назад
Global markets on March 13, 2025, shaped by a subdued US Dollar and escalating concerns over a potential trade war

Global markets on March 13, 2025, shaped by a subdued US Dollar and escalating concerns over a potential trade war

Global markets on March 13, 2025, are shaped by a subdued US Dollar and escalating concerns over a potential trade war, driven by new tariffs under the Trump administration. Investors are adopting a cautious stance, with safe-haven assets gaining traction and attention turning to the upcoming US Producer Price Index (PPI) inflation data, which could steer market direction later today.
Moneta Markets | 5ч 1мин назад
Global markets on March 13, 2025, shaped by a subdued US Dollar and escalating concerns over a potential trade war

Global markets on March 13, 2025, shaped by a subdued US Dollar and escalating concerns over a potential trade war

Global markets on March 13, 2025, are shaped by a subdued US Dollar and escalating concerns over a potential trade war, driven by new tariffs under the Trump administration. Investors are adopting a cautious stance, with safe-haven assets gaining traction and attention turning to the upcoming US Producer Price Index (PPI) inflation data, which could steer market direction later today.
Moneta Markets | 5ч 2мин назад
Relief rally from soft US CPI falters as trade war escalates

Relief rally from soft US CPI falters as trade war escalates

Softer-than-expected US CPI report offers some relief from trade frictions. But equities can’t sustain gains as Canada and EU slap counter tariffs on US. US government shutdown threat also weighs on markets. Dollar mixed, gold approaches all-time high.
XM Group | 5ч 56мин назад