Bank of America, Citigroup and Macquarie Group have all reaffirmed bullish stances on gold as it hit record highs above $3,000 an ounce. Since late 2022, gold has nearly doubled in price, supported by a global search for stability.
TODAY’S VIEW: Mild sells off will be there if spot gold trades below $3022.00 after London open and till days close.
Key intraday support in case of a sell off is around $2988.00.
With gold finally capturing a little bit of the headlines, along with the stock market wobbling due to the chaos going on in the U.S., it is probably not surprising that the Dow/Gold ratio is beginning to break down in favour of gold.
