Gold Price Outlook

In this video, we look at the short, medium, and long-term outlook for the gold price. Specifically, the video walks through a couple of slides of a recent edition of the Weekly Macro Themes report. In the video we talk through the short-term dynamics in sentiment and technicals, the line in the sand, and where the gold price is likely to move short-term... and what to watch for in a potential trend change. This is then lined up with the medium-long term implications of the fundamental backdrop: i.e. monetary policy trends, real yield outlook, and the real gold price vs its long-term average. The gist is that the medium-long term outlook has a bearish bias given the headwinds from monetary policy and expected normalization or mean reversion in real yields. We wrap up with a discussion on how the short-term swings in sentiment and technicals coalesce with the fundamental backdrop and what might change the view on the outlook for the gold price.

Video length: 00:08:35