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ausbiz Interview with Bas Kooijman: In gold we trust...?
ausbiz TV
Key points:
Bas Kooijman from DHF Capital shares insights on the current state of the gold market. Gold remains stable ahead of crucial economic data and the upcoming Federal Reserve meeting. Recent volatility was observed during the non-farm payrolls report, with gold initially rising and then dropping. Kooijman notes that gold currently hovers around the $2,500 mark.
Looking forward, Bas expects gold to stay just below $2,500, potentially breaking out towards $3,000 or even $3,500 in the long term. Geopolitical tensions typically drive gold prices up, but recent global concerns have not significantly impacted the market. Central banks' gold buying strategies add stability to the market, despite occasional retail-driven volatility.
Bas highlights interest rate cuts as a key factor influencing gold prices, with a potential push towards $3,000 if further cuts occur. For now, the market awaits new data to make more informed decisions. Gold has already seen a 21% rise this year, outperforming other asset classes in stability.
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