Gold price likely headed lower as short-term liquidity needs trump long-term investment case – Saxo Bank’s Hansen

(Kitco News) – Gold’s resilience is being severely tested as a break below $4,230, surging Treasury yields, and a stronger dollar have triggered renewed selling, with ETF demand now the only key counterweight, according to Ole Hansen, head of commodity strategy at Saxo Bank.In his latest precious metals analysis, Hansen said that Gold’s early-week price action suggests the yellow metal is facing an increasingly severe test of its ability to sustain investment demand in the face of sky-high bond yields.