Metals Focus Analyst Sees Gold Consolidating as Other Assets Compete

Gold’s recent pause reflects competition for investor capital from stocks, cryptocurrencies and other assets, while some institutions return when prices fall toward $4,000 an ounce, Matthew Piggott, director of gold and silver at Metals Focus, said. Piggott views the market as consolidating rather than entering a bear market. His account of institutional interest near $4,000 describes buying behavior when prices have fallen toward that level, not a fixed threshold for gold. Central banks have also helped steady the market, he said.

Source: TokenPost