Capital Economics: Gold and silver end losing streaks, but gold still has room for further decline

Hamad Hussain from Capital Economics stated that although gold closed higher today, there is still room for further decline and he does not believe $4,000 is a bottom. "We think the gold market may squeeze out more excessive speculative elements," he said. He attributed this to AI/tech stocks continuing to be favored by speculators as profitable tools, as well as the market’s view that the Federal Reserve, under the leadership of Kevin Warsh, will maintain a relatively tight stance on interest rates. Front-month gold futures closed up 1% at $4,030.50 per ounce, while silver closed up 0.5% at $58.348 per ounce.