Gold Price Forecast: XAU/USD's bearish streak to extend amid weak demand – SocGen Gold XAUUSD Banks
market for the sixth consecutive week. Strategists at Société Générale expect the yellow metal to continue seeing scarce demand.“Gold’s bearish streak continued with a flow of USD3.1 bn, the sixth weekly bearish flow in a row for bullion.”
“The Indian rupee and the Chinese renminbi depreciated 0.77% and 1.27% respectively against the dollar during the period. This is expected to weigh further on demand as India and China are two important gold markets.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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