[10/24/23]Gold will continue to show strength in the face of U.S. rate hikes, rising expectations for a soft landing and heightened geopolitical risks, according to Joseph Stefans, Head of Trading at precious metals house MKS PAMP.
While the Federal Reserve’s “higher-for-longer” narrative is depressing prices, the precious metal has remained surprisingly resilient as governments around the world continue to accumulate it amid growing economic and political risks.
“Most assets are impacted by the Fed and its path in terms of whether it is looking to hike or aggressively hike in the foreseeable future and gold is no exception,” said Stefans, responding to a question from Jin Hennig,...
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