Chuks 1
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Gold has dropped 12% since the Iran conflict began, hurt by rising oil prices, a stronger dollar, and the Fed holding rates steady.
Despite this, ING strategist Ewa Manthey forecasts gold could reach $5,000/oz by year-end, as these headwinds are seen as temporary.
Key supports include central bank buying (China extended a 15-month streak), and $6.6bn in ETF inflows in April.
The main risk is a prolonged war keeping inflation and rates elevated. Gold is currently trading around $4,729/oz.
Where do you see gold by year-end?
Source: CryptoRank.
#Gold #ETF
Despite this, ING strategist Ewa Manthey forecasts gold could reach $5,000/oz by year-end, as these headwinds are seen as temporary.
Key supports include central bank buying (China extended a 15-month streak), and $6.6bn in ETF inflows in April.
The main risk is a prolonged war keeping inflation and rates elevated. Gold is currently trading around $4,729/oz.
Where do you see gold by year-end?
Source: CryptoRank.
#Gold #ETF
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