IAUM - War Fears Keep Gold's Bullish Case Alive Despite Headwinds
2024-06-19 04:53:46 ET
Summary
- Gold facing headwinds, stuck in neutral short term.
- Central bank demand and geopolitical certainties support bullish longer-term outlook.
- Seasonal bullishness, lower interest rates, and geopolitical tensions may drive gold prices higher in the future.
Despite a bullish seasonal bias, gold is facing a couple of imposing headwinds that have kept it stuck in the mud in recent weeks. What’s more, my interpretation of the data points to gold likely remaining stuck in neutral in the short term (1-to-3 months)....
War Fears Keep Gold's Bullish Case Alive Despite Headwinds