Analysis: Gold remains strong, precious metals bull market is still going on

PANews reported on September 23rd that gold prices stabilized after hitting a record high, supported by expectations of a US interest rate cut and a weakening dollar. Investors awaited a speech by Federal Reserve Chairman Powell for further policy cues. Kelvin Wong, senior market analyst at OANDA, stated that the short-term trend remains bullish, but based on intraday analysis, any short-term pullback is expected to be driven more by technical factors. ANZ Bank stated in a report that slowing economic growth, rising inflation, shifting geopolitical dynamics, and a weakening dollar will maintain strong investment demand for gold. As long as gold shines, investment demand will continue to drive silver prices higher.

Share to:

Author: PA一线

This content is for market information only and is not investment advice.

Follow PANews official accounts, navigate bull and bear markets together
PANews APP
Matrixport-linked whale's ETH long position is showing a floating loss of $33.86 million, and it has opened a new long position of 500 BTC.
PANews Newsflash