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(Kitco News) - Investment demand in gold-backed exchange-traded funds has been resilient in the face of persistent inflation, higher bond yields and a stronger U.S. dollar; however, one bank remains cautious on the precious metal as physical demand remains weak, particularly in key global markets. (Kitco Global Index…
Bank of America keeps a cautious gold outlook, expecting prices to struggle above $4,000 an ounce as weak physical demand, slowing central bank buying and a hawkish Fed offset resilient ETF inflows.
Gold prices are recovering, but are continuing to see pressure due to global factors, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. Here’s his analysis: