Omar Rahman

Interesting take. I wonder if the market has already priced in most of the dovish BoE outlook. Could there be a surprise on the hawkish side?

Are we sure this 'safety' demand isn't just a short-term trade? What happens if EM starts to stabilize or even outperform?

What's your outlook on its price target? Do you see it breaking out of this range soon, or settling into this new 'defensive' role for a while?

Or it could just be inflation hedging. Gold has always been a decent hedge against currency debasement, regardless of growth prospects.

Could be, but I'm seeing a bit of rotation into healthcare and utilities today. Maybe some defensive posturing after the recent tech rally.