B · Normal
[Societe Generale is bullish on gold: More than $3 billion in buying orders are coming] November 13: As U.S. inflation continues to remain high, forcing the Federal Reserve to continue to strengthen its hawkish stance, international gold prices fell back below $4,000 per ounce this week, and fell below $3,900 on Thursday. However, due to the impact of index rebalancing, the gold market may soon usher in a breather. Since the beginning of this year, international gold prices have fallen by nearly 10%. Commodities analysts at Societe Generale said in a report on Thursday that the sharp decline could bring more than $3 billion in buying for gold as funds need to rebalance their exposure to broader commodity benchmarks, including the Bloomberg Commodity Index (BCOM). Analysts at the bank said gold is expected to be the biggest beneficiary of the annual rebalancing, which will take place from January 8 to 14. At the same time, analysts expect silver to also see $2.5 billion in inflows due to index rebalancing.
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