Analysts at HSBC point out that in the current climate, gold may rally even if the US dollar goes up, and could be firm even if the equity market is strong. Key Quotes: “Gold may have received some support from plans for increased fiscal spending, but the underlying support is based on lingering uncertainty, according to our precious metals analysts.” “Our precious metals analysts think that this uncertainty that has so far benfitted gold, will continue, as some investors may take on gold positions as insurance or a hedge against another economic downturn or equity pullback. In addition, geopolitical risks are also positive for gold, especially if they negatively impact trade. In the current climate, gold may rally even if the USD goes up (as both attract “safe haven” and quality asset buying, like what has happened since the onset of COVID-19 and during the 2007-08 global financial crisis). According to our precious metals analysts gold could be firm even if the equity market is strong.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Pres. Trump weighing sanctions targeting China’s financial sector – Bloomberg FX Street 3 years Analysts at HSBC point out that in the current climate, gold may rally even if the US dollar goes up, and could be firm even if the equity market is strong. Key Quotes: “Gold may have received some support from plans for increased fiscal spending, but the underlying support is based on lingering uncertainty, according to our precious metals analysts.” “Our precious metals analysts think that this uncertainty that has so far benfitted gold, will continue, as some investors may take on gold positions as insurance or a hedge against another economic downturn or equity pullback. In addition, geopolitical risks… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
