Look for the upside potential of gold - 15/05/2023

Many investors are still interested in gold due to the demand from central banks, which is expected to continue. In fact, central banks bought a record 228 tonnes of gold in the first quarter of this year, according to the World Gold Council. Additionally, the value of gold remaining above $2,000/ounce despite selling pressure is another reason why investors are attracted to it.

According to a recent Gallup poll, 26% of Americans consider gold as the second most preferred investment after real estate. This is up significantly from 15% last year. However, the Dollar Index has gained more than 0.18%, and US bond yields are expected to rise by about 20 and 10 basis points for the 2-year and 10-year bonds, respectively, next month.

Gold still faces challenges as it strives to reach its record high due to the US Federal Reserve's aggressive monetary policy and persistently high inflation.Look for the upside potential of gold