Gold likely has more upside in 2025, according to three members of Bank of Singapore’s Investment Strategy & Research team.
Gold will likely be aided in the medium-to-longer term by some of U.S. President-elect Donald Trump’s policies, they said in a report.
Trump’s proposed tax reductions could raise worries over the budget deficit, the members said. A further increase in debt levels will probably worsen the fiscal situation and the allure of U.S. assets, thereby benefiting the precious metal, they added.
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