- The gold market is struggling to hold its ground at around $2,000 an ounce as markets adjust to shifting interest rate expectations; however, one market analyst said that the precious metal remains well-positioned to protect investors from further market turmoil.
Yang's bullish outlook on gold comes as another wave of fear starts to build within the banking sector. Investors' anxiety has picked up after beleaguered regional bank First Republic Bank said it lost $100 billion worth of deposits in the first quarter of 2023 before it received $30 billion from the big banks in an attempt to restore some faith in the sector.
Although gold prices are struggling to hold their ground at around $2,000 an ounce, Yang said that investors need to pay attention to the broader environment. Although gold has been unable to break out to new all-time highs, Yang pointed out that the market is seeing upward-sloping support.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
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