Phillip Nova: Gold may continue to fluctuate in the short term, with geopolitical news driving the market.
- Phillip Nova analyst Priyanka Sachdeva stated in a commentary that gold prices may remain volatile in the short term. Geopolitical tensions usually support safe-haven demand, but the current environment of high energy prices and a stronger US dollar is limiting the upward momentum of gold.
- She noted that until the geopolitical situation becomes clearer, gold prices may continue to fluctuate, driven by news events, and any diplomatic statement could potentially trigger a sharp reversal in gold prices.
- Currently, the ongoing tensions between the US and Iran, news such as Trump postponing the power grid strike plan, and Iran denying negotiations have already caused significant gold price swings.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Morgan Stanley: AI capital expenditure may reach 10 to 15 trillions USD in the next 10 years
Morgan Stanley stated that capital expenditure in the artificial intelligence (AI) sector could reach $10-15 trillions over the next decade.
Morgan Stanley: Apple's target price lowered to $350
Autoliv completes acquisition of MCF Safety Belts
Refining profits surge and oil prices soar; Saudi Aramco Q3 profits grow by 9% and maintains a dividend of 21.9 billions USD.
Driven by rising refining profits and oil prices, Saudi Aramco's third-quarter profits increased by 9%.
Crypto prices
More
