{"id":54856,"date":"2020-08-29T08:58:38","date_gmt":"2020-08-29T13:58:38","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54856"},"modified":"2020-08-29T10:00:05","modified_gmt":"2020-08-29T15:00:05","slug":"54856","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54856","title":{"rendered":"This Analyst Says Gold\u2019s Pullback is Proof that Higher Prices Are to Come"},"content":{"rendered":"
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This Analyst Says Gold\u2019s Pullback is Proof that Higher Prices Are to Come<\/a><\/h3>\n<\/div>\n<\/div>\n<\/section>\n
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\"Precious<\/p>\n

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold has more room to run, why central banks have been buying gold for over a decade, and two massive gold nuggets worth $250,000 found in Australia.<\/p>\n

Standard Chartered: Gold has more to show this year despite hitting a new all-time high<\/strong><\/p>\n

For a steady asset such as gold, a rapid breach of its decade-old all-time high is quite a showing. Yet, according to multiple analysts, the metal could\u00a0stagger market watchers some more<\/a>\u00a0by the end of the year. Since blazing past $2,000, gold has pulled back as some expected, yet seems unwilling to go below the $1,940 level if the previous two weeks are any indicator.<\/p>\n

Standard Chartered Private Bank\u2019s Manpreet Gill attributes gold\u2019s correction to a slight recovery in the 10-year Treasury yield amid an increase in risk sentiment. If this is indeed the reason for the pullback, the development is actually positive for gold, as the general consensus is that sovereign bond yields are on a firm downwards spiral, with no central bank showing any inclination towards elevating its benchmark rate.<\/p>\n

\u201cWe have quite a bit of one-sided positioning in gold and I think, you know, that\u2019s actually unwound quite quickly. A lot of our proprietary indicators are telling us exactly that,\u201d said Gill, while acknowledging that central bankers are favoring a cap on their bond yields.<\/p>\n

In a recent note, Fitch Solutions\u2019 analysts likewise said that gold should keep moving up for the rest of the year and pass its August high in doing so in the absence of any notable headwinds. \u201cWe expect\u00a0gold prices<\/a>\u00a0to remain supported in the coming months with rising geopolitical tensions and an uneven and slow global economic recovery,\u201d said the team in the note.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

This Analyst Says Gold\u2019s Pullback is Proof that Higher Prices Are to Come This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold has more room to run, why central banks have been buying gold for over a decade, and two massive gold nuggets […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[18769,124,7783,5059,3493,1099,309,374,3622,538,647,730],"class_list":["post-54856","post","type-post","status-publish","format-standard","hentry","category-economics","tag-birch-gold-group","tag-central-banks","tag-credit-expansion","tag-currency-debasement","tag-currency-depreciation","tag-currency-devaluation","tag-fiat-currency","tag-gold","tag-gold-price","tag-money-printing","tag-precious-metals","tag-silver"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54856"}],"version-history":[{"count":3,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54856\/revisions"}],"predecessor-version":[{"id":54859,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54856\/revisions\/54859"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}