Gold prices have pulled back approximately 10% over the past six months, approaching a seven-week low, but Morgan Stanley maintains a positive 12-month outlook for the precious metal. The bank highlights three key factors: physical demand remains strong, particularly with substantial purchases by Chinese and Polish central banks in July; concerns about public debt and global fiscal sustainability support demand; and a potential de-escalation in the Middle East could lower oil prices, easing inflationary pressures and interest rates. Amy Gower, head of metals and mining strategy at Morgan Stanley, considers the $4,000 level a strong floor for gold prices.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
