WGC expects gold price to remain supported, cites rangebound bond yields & weaker dollar

<p>WGC is the The World Gold Council, a gold lobby group. More on them below. </p><p>The group says its expects central banks in developed markets are nearing the conclusion of their tightening cycles. And that market consensus is that the US will have a slight recession in late 2023 and that developed markets would experience slow expansion. Investors are concerned that a hard landing may still be in store given the historical gap between monetary policy and economic performance.</p><p>Given this background and the fact that gold experienced positive returns in H1, the WGC anticipates that gold will continue to be supported by rangebound bond yields and a lower dollar. If economic conditions worsen, gold investment demand should increase. In contrast, a soft landing or significantly stricter monetary policy can lead to disinvestment.</p><p><a href="https://www.gold.org/goldhub/research/gold-mid-year-outlook-2023-between-and-soft-and-hard-place" target="_blank" rel="nofollow">More at their update </a>report. </p><p>–</p><p>The World Gold Council</p><ul><li>is the market development organisation for the gold industry</li><li>Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.