Analysts at Citigroup upped their 2021 gold price forecast, citing “we lift the 2021E base case gold price forecast by ~$300/oz, versus our early July update, to a record $2,275/oz.”
Key quotes
“Maintain our 0-3m point-price target at $2,200/oz and a 6-12m target at $2,400/oz.
Occasional liquidation squeezes, drawdowns, and profit-taking activity for gold seem likely in a high volatility market environment. But investors will probably buy that dip on the back of an accommodative central bank reaction function.
Record weak gold jewelry consumption and tepid official sector gold demand may limit the performance of gold
The record pace of inflows and overall growth in bullion ETF holdings reflects strong investor appetite for gold.
Greater inclusion of gold by portfolio asset allocators, especially non-traditional players (e.g., pensions, insurance, family offices), is a further tailwind for the bullish gold thesis in the medium-term.
Current Fed policy and liquidity provisions have also tempered concerns about another sharp collapse in inflation expectations. So the overall gold price trend should, on balance, remain upward sloping in the current regime.”
원저자가 모두 저작권을 보유한 FXStreet에서 재 인쇄 함.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.