Opinion: Gold may have more room to rise, and a potential U.S. government shutdown could prompt a large influx of funds.
BlockBeats News, on September 30, Pepperstone market strategist Ahmad Assiri stated that although gold prices have reached new highs supported by speculative flows and structural demand, the upside for gold prices in the future appears to be fragile.
He said that central banks remain active buyers, and institutional portfolios are increasingly raising their gold allocations above the traditional 5% benchmark. Given the macro environment, such as weakening U.S. labor market indicators, gold's role as a hedging and diversification tool may remain solid.
A potential U.S. government shutdown could also prompt investors to turn to gold and U.S. Treasury bonds. Although short-term gold fatigue may occur, any profit-taking will be quickly absorbed by demand.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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