Investors are cautious as summer draws to a close.
Gold’s struggles come as the US dollar, which fell to a one-year low last month and entered oversold territory, is seeing a modest shift in momentum.
While September has been a tough month for gold in recent years, analysts do not see the bullion’s bullish trend ending. Looking beyond the near-term weakness, they see central bank buying continuing to provide solid support for gold. At the same time, new investor interest will begin to pick up as the Fed begins its long-awaited monetary easing cycle this month.
While September has been a tough month for gold in recent years, analysts do not see the bullion’s bullish trend ending. Looking beyond the near-term weakness, they see central bank buying continuing to provide solid support for gold. At the same time, new investor interest will begin to pick up as the Fed begins its long-awaited monetary easing cycle this month.
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