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Bridgewater: Gold Price Above US$4,000 May Face Demand Shortfall w/o Retail Participation
Recommend 29 Positive 49 Negative 28 |
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Hudson Attar, Head of Currency-like Assets at Bridgewater China, made forecast in an internal interview that global central bank demand for gold may underpin prices between US$3,000 and US$3,500, but levels above US$4,000 may face demand shortfall without retail participation. In his analysis, the current gold price spike is immense and swift, and took place during Asia's physical demand off-season such as China's National Day holiday, and future physical demand may inevitably adjust to fill the gap. Besides, the gold price hike showed an "independent trend", weakly tied to asset allocation rotation propelled by currency depreciation. He cautioned that market judgment should remain prudent, as this could be the early stage of a larger-scale asset allocation rotation. AASTOCKS Financial News Website: www.aastocks.com |
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