Commodities
Gold Fights for Survival Around $4,000/Oz Amid Bull-Bear Tussle
Gold is locked in a fierce tug-of-war around $4,000/oz as bulls and bears clash over its future.
The market has been volatile since gold's January peak of $5,598/oz, with prices plummeting by nearly 30% within six months.
However, technical signals suggest that a bottom is forming, supported by cooling US CPI, weak nonfarm payrolls, and record-high central bank gold buying intentions.
UBS's Chief Investment Office warns that investment demand remains insufficient to drive prices higher, with $3,850/oz seen as a potential near-term risk for gold.