Top U.S. Defense Stocks to Watch According to Jefferies Analysis
Investing.com - Deutsche Bank suggests the gold rally that dominated September and October may have reached peak trendiness, according to a technical analysis released Monday.
The bank notes that the recent gold rally has continued longer than both median and average durations, with its degree of trendiness exceeding any other rally observed over the past three years.
Despite these technical indicators, Deutsche Bank does not interpret this as a signal for an imminent correction, but rather suggests the precious metal might enter a more neutral behavior pattern similar to the June-August period.
A distinguishing characteristic of the September-October rally has been the participation of white metals, which Deutsche Bank describes as historically more typical than the gold-exclusive rally witnessed from January through May. The bank highlights this trend has been accentuated by record-high silver lease rates observed this week.
Deutsche Bank maintains a bullish outlook on the gold-to-oil ratio trade, targeting a further rise to the 72-73 range. This projection aligns with the bank’s 2026 target for WTI crude oil of $55 per barrel.
The bank’s analysis indicates that gold’s fair value has increased alongside the metal’s price throughout the past two months, suggesting fundamental support for recent gains despite the potential technical plateau.
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