Gold bulls think they see a buying opportunity. Picture: Getty Images share
Gold prices retreated last week on Pfizer’s vaccine news
Price was trading around $US1,880 on Friday – buying opportunity?
TD Securities and Royal Bank of Canada say macro case remains strong Gold prices have dipped following positive news about Pfizer’s coronavirus vaccine candidate – but a number of analyst say the bull case for gold remains.The Royal Bank of Canada and TD Securities last week both made the case for gold even as it tested a crucial support level around $US1,850 an ounce on Pfizer’s news.“Vaccine should ultimately be a boon for gold bugs, as the Fed could keep nominal rates capped while inflation expectations could firm further as a result,” TD Securities strategists wrote on Wednesday .RBC meanwhile said in a note to clients on Thursday that while investor flows to gold had levelled out, an […]
November 16, 2020 (updated November 16, 2020) Published by StockMan