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They added that they remain bullish on the precious metal as a hedge against rising currency risks worldwide, and noted that“Given no politician is likely to be elected by promising to spend less in a year loaded with elections across key democracies, there is certainly a chance that later in the year we may see further currency concerns supporting precious metal performance as a new era of elevated fiscal spending across global economies gathers traction,” the analysts said in the report.
“Historically, money might have been invested in property as a default position; however, as has been widely discussed this sector continues to face major structural issues which are impacting buyer confidence. With this, gold exposure has become a necessity for Chinese portfolios, as they continue to expect disinflation and income uncertainty,” the analysts said in the report.
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