Amundi Says ‘Worst Is Behind Us’ as Gold Flirts With $4,000 - Bloomberg.com
Amundi Says ‘Worst Is Behind Us’ as Gold Flirts With $4,000 - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
Amundi calls the bottom on gold after a 24% drawdown from $5,318 in January. The asset managers always do — usually right before the next leg down. Gold rallied 217% in eighteen months on the back of a closed Strait of Hormuz and two active Middle Eastern wars; now it's falling while those wars continue and oil still trades at $102. That's not stability returning, that's momentum exhausting itself.