Gold bounced on Friday after the weak US jobs report, but the precious metal has struggled in recent sessions as rising inflation fears and a more hawkish tone in global bond markets outweigh safe-haven demand linked to the Iran conflict. A retest of 2026 lows for the gold and/or related names is likely to see MM look to reestablish our precious metal exposure in the Active Growth Portfolio – but we are in no hurry at this stage.
- We can see gold testing below $US5,000 in the coming weeks/months.
MM is neutral towards gold ~$US5,175
Add To Hit List
chart
Gold Spot ($US/oz) v VanEck Gold ETF (GDX) – % Gain
chart
Gold Spot ($US/oz) v VanEck Gold ETF (GDX) – % Gain
