16 min listen
Is the pain over yet for gold? Alain Corbani gives forecast
Is the pain over yet for gold? Alain Corbani gives forecast
ratings:
Length:
22 minutes
Released:
Nov 30, 2020
Format:
Podcast episode
Description
Gold has broken a critical support level, but there is not much downside left, said Alain Corbani, portfolio manager of Finance SA, who forecasts $2,500 an ounce for gold's upside target.
The metal will be caught between conflicting macroeconomic forces next year: slightly higher negative real interest rates, but a weakening U.S. dollar. While gold has a negative correlation with negative real rates, ultimately, the dollar will prevail as the dominant driver of gold during this current phase of the commodity cycle.
The metal will be caught between conflicting macroeconomic forces next year: slightly higher negative real interest rates, but a weakening U.S. dollar. While gold has a negative correlation with negative real rates, ultimately, the dollar will prevail as the dominant driver of gold during this current phase of the commodity cycle.
Released:
Nov 30, 2020
Format:
Podcast episode
Titles in the series (100)
Gold price plummets $100, can it go lower? Pfizer, travel stocks soar, Zoom tanks: Gold price dropped $100, or 4.5% on Monday as Pfizer announced that its COVID-19 vaccine is 90% effective. The S&P 500 climbed 2.9%, the Dow is up 3.8%, and the NASDAQ is up only 1%, dragged down by companies that benefit from the work from home culture, like Zoom (-12%) and Netflix (-4%). Peter Hug, global trading director of Kitco Metals, said that these moves factor in expectations that are a bit ‘premature’. by Kitco NEWS Interviews