TREE NEWS reports: CITIC Securities said in a research note that stronger-than-expected ETF and central bank buying since September has sufficiently offset liquidity selling in the futures market, and gold prices have shown signs of stabilizing over the past two weeks and may rise from their end-June bottom. A steady gold price would be an important signal for a rebound in gold stocks, which led a price recovery in July, the brokerage said.
CITIC Securities: Gold Price Bottom May Lift, Gold Stocks Seen Leading
AI take
The notable shift here is the claim that ETF and central bank demand has absorbed futures-market selling, effectively putting a floor under prices — a flow-driven argument rather than a macro one. For gold equity holders, the brokerage's point is that the metal's stability, not its level, is what historically unlocks a sector re-rating. Whether that stabilisation holds long enough to confirm the July equity recovery is the open question.
Generated by AI for reference only.
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