Frank Giustra says gold rally missing retail investors, more room to run
Frank Giustra says ordinary investors have not joined gold's rally, leaving room for further gains as central banks buy on dips.
Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
Frank Giustra says ordinary investors have not joined gold's rally, leaving room for further gains as central banks buy on dips.
Gold traded flat near $4,140 on Tuesday as a stronger US dollar and elevated yields were offset by reduced expectations of a Federal Reserve rate hike this month after weak payrolls data.
Gold ticked higher on Monday but remains in a bearish configuration. A trendline at $4211 caps upside and the larger downtrend stays intact.
Gold closed lower for the week despite a weaker-than-expected US jobs report, as bond yields reversed and rose. Analysts suggest further downside may present a buying opportunity.
Gold is trading just below $4,150, little changed on Monday, as the US dollar rallies to its strongest level since April 2025. Disappointing US jobs data and geopolitical tensions are pulling the metal in opposite directions.
Gold is under selling pressure after the Fed raised rates. Ten-year Treasury yields near 5.25% and a dollar index above 101 outweigh geopolitical support for the metal.
Gold price gained momentum to near $4,160 in early Asian trade on Monday after US Nonfarm Payrolls missed expectations, reducing the likelihood of a Fed rate hike this month. Rising US-Iran tensions also provided support.
The world’s 50 most valuable mining companies shed $264 billion in September – the second-worst month on record – as gold’s summer rally unravelled and lithium stocks nearly disappeared from the ranking.
Gold's weekly trend flipped short after a sharp fall, but $4,000 support remains. Analysis of the outlook and key economic data.