Gold Stabilising but Not Confirmed Reversal – OCBC

OCBC’s FX strategists Sim Moh Siong and Christopher Wong observe that gold is showing tentative signs of stabilisation following a sharp selloff. Prices have recovered above the $4,000 level, and some dip-buying interest has emerged as the US Dollar and real yields ease.

However, the strategists caution that this is not yet a confirmed reversal. The current price action should be viewed as stabilisation rather than a definitive turning point, suggesting continued uncertainty in the near-term outlook for the precious metal.