Gold: Constructive dip-buying outlook – ING

ING’s commodities team highlights that Gold has rebounded above $4,900/oz after recent declines linked to a stronger Dollar and risk‑off sentiment. Thin Asian liquidity had amplified moves, but the bank sees the setback as corrective. With Asian trading normalizing and macro uncertainty persisting, they expect underlying support to improve and dips to attract renewed buying.

Setback seen as corrective for bullion

"Gold moved back above $4,900/oz this morning as dip buyers stepped in after two days of declines."

"The earlier pullback had come as the US dollar strengthened and risk‑off sentiment spread across broader markets. Moves were amplified by thin liquidity, with much of Asia closed for the Lunar New Year, leaving prices more sensitive to macro and FX dynamics."

"While near‑term price action remains sensitive to dollar dynamics and risk sentiment, the recent setback appears corrective. With Asian liquidity set to normalise and macro uncertainty persisting, gold should find stronger underlying support, with constructive fundamentals suggesting further dips are likely to be met by renewed buying interest."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)