City warns gold rally may fluctuate before Warch speech
Reports confirm that recent gold price increases have surpassed a key technical resistance level, largely influenced by speculative flows, especially through futures contracts, amid a weak US dollar and declining US interest rates. Although prices have stabilized around $4,380 per ounce, technical indicators remain positive. However, actual demand remains weak, particularly in Asian and Indian markets. Citibank warns that the current upward wave may be prone to fluctuations ahead of the Federal Reserve Chair's speech at Jackson Hole, and that sustaining the rise depends on activating genuine demand to ensure the longevity of the increase.
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