Société Générale (SocGen) has released its latest gold report, weighing the pros and cons for gold. The French investment bank questioned the commodity supercycle, noting that searches and articles for the term had decreased significantly. In terms of yellow metal, the bank noted that flows are much less likely to raise yellow prices. Cryptocoin. com, we have compiled the comments of the SocGen analisdollar series for you, let’s examine it together…

SocGen: Limited gains in gold price do not bode well for prospects!

In the SocGen report, he drew attention to the following important points:

Gold’s limited gains despite low rates and high inflation do not bode well for prospects. Our sdollarseries are still somewhat supportive of it in the near future as they expect monetary and fiscal policy to remain fairly flexible. Analisdollar’s opinion stems from expectations that ETF outflows will stop and we will start to see moderate inflows towards the end of the year. And while real rates will continue to be negative, any indication that they could turn positive faster will indeed weaken investment flows. Sustainable finances rose due to lower average nodollarsars, higher labor costdollars, and higher total cash costsdollars, which increased due to other COVID-19 pandemic related costs. Demand: Demand is normalizing globally, but jewelery demand is not returning to normal in particular. Our Analisdollar series is still expected to recover to pre-COVID-19 levels, although they expect to see some sort of return to normal.

SocGen analisdollarseries analyzed the markets!

Silver was not mentioned, but the report did mention copper. The bank said sentiment is starting to reverse and a large supply of minerals will confirm the bearish trend in fiadollarsars. Analisdollarser expects copper fiadollar yellow to continue its correction. The bearish forecasts for the current period have been reached and they now expect the bearish trend to continue. The bullish momentum and sentiment surrounding talk of a supercycle, energy transition, and green fiscal stimulus is waning.

On the supply side, the bank said post-pandemic global trade stalled in April-May this year. Supply bottlenecks and transportation problems had a direct impact on this. There is a danger that the manufacturing sector will not be able to quickly meet the pent-up demand, effectively limiting the upside growth potential of copper demand in the coming months. In terms of demand, the SocGen analisdollarseries expects consumption to recover. But as predicted earlier this year, Chinese consumption has stalled recently, mainly due to softening in the manufacturing sector.

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Michael Lewis


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