Gold Rally Was Becoming 'Unsustainable,' Saxo Bank Says
Why it matters
Saxo Bank's commodity strategy head, Ole Hansen, believes the gold rally has become unsustainable and parabolic, leading to a selloff, but still advises keeping an eye on gold due to central banks' continued buying.
Expected market reaction
Market impact analysis based on bearish sentiment with 80% confidence.
Evidence trail
Evidence
AI provenance
Technical identifiers
- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 40188
Original source
Ole Hansen, Saxo Bank's commodity strategy head, discusses the precious metals selloff as gold extended losses after its biggest plunge in more than a decade on Friday. Speaking on Bloomberg Television, Hansen says the rally was becoming "parabolic and unsustainable." He adds markets should still "keep and eye on" the yellow metal as central banks "will not stop buying gold." (Source: Bloomberg)
Read the full article on Bloomberg
Original article published by Bloomberg on February 2, 2026. Analysis and insights provided by AnalystMarkets AI.
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