Gold’s outlook remains positive in the near term, according to Julius Baer’s Carsten Menke in a research note.
The precious metal staged a rally this week, as news about an imminent end to the U.S. government shutdown spread, Menke said.
Although the “fear of missing out” still appears to be present, Julius Baer reiterated its constructive views on gold amid a favorable fundamental backdrop. “While we are very convinced about continued buying, we do see a risk that volumes may recede after the strong rally,” Menke said.
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