Sharon Ding, UBS head of China basic materials research, said most negative news
for gold has been priced in. Gold has dropped about 5% since early September as
renewed inf concerns re‑ignited bets on further Fed hikes; she said prices now
reflect a clear hawkish repricing and the headwind may ease as market odds of an
October Fed rate rise recede. Ding added that if upcoming data no longer
supports further upward revisions to the expected policy path, there is greater
room for gold to stabilize, and a continued fall in US Treasury yields could
bolster a recovery.
