- Rising geopolitical tensions could provide critical support for gold and eventually push prices above $2,000 an ounce, according to commodity analysts at BCA Research.
Since BCA's comments last month, political relations between the U.S. and China have deteriorated further after the U.S. shot down a suspected Chinese spy balloon two weeks ago. Ryan noted that the rise in geopolitical uncertainty comes as economic conditions continue to deteriorate. He added that in the current environment, he doesn't see the Federal Reserve raising interest rates beyond 5% this year.
Source: Financial Digest (financialdigest.net)
1740, then 1350
Gold = 🐻
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