Reported 15 days ago
Gold prices hover near record highs, but HSBC's chief precious metals analyst, James Steel, warns of potential resistance due to declining demand for jewelry—responsible for half of gold's physical demand. Although there may be short-term price momentum driven by anticipated Federal Reserve rate cuts, Steel suggests that ongoing high prices could dampen demand from central banks and consumers alike, leading to possible roadblocks in gold's upward trajectory.
Source: YAHOO