Barclays sees headwinds overpowering gold’s recent rally.
Barclays poured cold water on gold’s recent rally arguing the yellow metal would revert back to decline later this year.
In a recent report, Barclays acknowledged a surge in safe haven gold buying in the past few weeks along with strong Chinese demand, saying it expected such factors to buoy gold in the very short term.
But the rally would ultimatly fizzle, it said.
“Although safe-haven buying has scope to push gold prices higher in the near term, we believe the rally is likely to come under pressure in the coming months, after the Lunar New Year,” the bank noted.
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