HSBC: Gold Range-Bound Near Term, Upside Later
HSBC analysts Willem Sels and Lucia Ku note that gold has failed to rally amid the Middle East conflict and traded lower after a recent record high. They see near-term range-bound action but anticipate upside later.
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HSBC strategists Willem Sels and Lucia Ku observe that gold has not benefited from the Middle East conflict as a haven asset and has actually declined after reaching a new all-time high earlier. The metal is expected to trade in a range over the near term, but the analysts foresee upward potential in the later period.
No specific price targets or timing were provided in the note.
Source: FXStreet Forex News