Gold: Modest gains in risk-off backdrop – Deutsche Bank
Deutsche Bank notes that Gold prices edged higher alongside broader risk-off moves and rising financial stress in Europe. While the report focuses more on bonds, equities and energy, Gold’s advance came as volatility ticked up and investors digested geopolitical risks and shifting central bank expectations ahead of key US and Euro Area data releases.
Safe-haven bid supports Gold
"Markets stumbled yesterday as we began Q4, with mounting signs of financial stress focused on Europe."
"In fact, the daily moves were reminiscent of the Euro crisis in many respects, with sovereign contagion a big talking point."
"Moreover, the impact cascaded across different asset classes, with the Euro (-0.76%) posting its worst day against the dollar since June, whilst the STOXX Banks index (-3.90%) had its worst day since March."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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