When global central banks were just about to make a U-turn from their jumbo hiking in Q3 2022, the gold finally bottomed out. At that time, USD was weakening against DM and EM currencies, and that helped gold prices to rise in USD terms.
Citi downgrades US stocks to ‘neutral’ as AI sell-off, regulatory risks mount
Citigroup strategists have downgraded US equities to neutral due to ongoing market volatility and regulatory concerns. This decision follows a significant sell-off that erased $3