Crédit Agricole Desk Says Buy Gold Again
Summary
After one of the sharpest corrections of the current cycle, (and CITI’s recent announcement advising clients to not buy the dip in gold) Crédit Agricole believes the market may be misreading gold’s recent weakness. The bank argues that rising real rates, stronger dollar demand, and central bank selling linked to the Iran conflict have created temporary pressure on prices, but have not altered the structural forces that have supported gold since 2022. Their conclusion is straightforward: buy the dip.
