Gold prices are set for a correction in the coming months due to the re-emergence of risk-on sentiment, this according to Florian Grummes of Midas Consulting.
In a recent article published on Seeking Alpha, Grummes said that gold’s recent uptrend could see a trend reversal soon.
“In the coming weeks…a rudimentary normalization after ‘Corona’ is expected. The easing rally in the stock market in the so-called ‘risk on’ mode could initially continue,” he said. “During such phases, gold is not needed and will most likely come under considerable pressure.”
Grummes noted that this would still only be a temporary correction for gold on its way to all-time highs.


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