Gold proxy: Another round of golden time
Trading Catalyst
• With gold price hovering near US$2,000, the safe-haven commodity relatively attractive as a hedging tool against the toppish market condition.
• Economic recovery to remain in a choppy mode following US Federal Reserve stance on interest rate direction over the next two years.
• The CBOE Volatility Index (VIX) that represents the market expectations of 30-day forward volatility has jumped to 26.4 in late last month – the highest since mid-July 2020.
• The weaker Greenback with the US Dollar Index falling to the lowest level since April 2018 also boosted the safe-haven assets
#XAU/USD# #CrazyGold#
Wui Feng
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