TechFlow News: On February 5, according to JIN10 Data, EFG International—the asset management arm of UBS Group—identified multiple factors that could trigger further gold price corrections. GianLuigi Mandruzzato, Senior Economist at EFG, noted that the sharp volatility observed in gold prices on January 29—when gold briefly touched $5,600 per ounce in European markets—highlights growing correction risks. He stated that while currently unlikely, any easing of tensions concerning Iran could prompt investors to reassess their gold positions. Additionally, Mandruzzato added that the appointment of a new Federal Reserve Chair—perceived as independent from Trump and credible on inflation issues—could bolster investor confidence in U.S. dollar-denominated assets, thereby reducing demand for safe-haven assets.
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