Weaker structural demand for gold left prices vulnerable to a pick-up in real yields and reduced risk appetite on the back of the conflict in Iran. But even if the conflict were to de-escalate soon, the same forces that had driven the gold rally could go into reverse and trigger further falls in prices this year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services