Analyst Sees Long-Term Gold Recovery Despite Fed Rate Risks
Photo: TokenPost
Rick Kanda, managing director at The Gold Bullion Company, expects gold to recover over the longer term, saying diversification demand may support the metal even if the Fed stays hawkish. In comments made before the Fed’s Oct. 28 policy decision, Kanda said the possibility of a December rate increase could weigh on gold, while a more dovish outlook could support prices. Higher rates can make interest-bearing assets more attractive than gold, which generates no income. Kanda said gold’s longer-term outlook also depends on geopolitical uncertainty, central bank demand and investor confidence.
Source: TokenPost
