Commonwealth Bank of Australia: Regardless of the rise or fall of the US dollar, gold's ability to pump has enhanced the attractiveness of gold

On August 27th, Jin10 News reported that Vivek Dhar, an analyst at the Commonwealth Bank of Australia (CBA), stated that the current low level of the US dollar since July 2023 is a Favourable Information for gold prices due to the negative correlation between gold prices and the trend of the US dollar, which is driven by optimistic sentiment of interest rate cuts. Earlier this year, despite the strengthening of the US dollar, gold prices rebounded due to the support of Central Bank, retail and safe-haven demand, breaking the correlation temporarily. However, the ability of gold to gain support in the rising and falling environment of the US dollar makes people believe that there is an upward risk for gold futures prices.