Gold price rebound? HANetf's Harry Halewood weighs up miners and US midterms - Yahoo Finance

AI desk brief

Gold is seen as having room to recover into year-end after a pullback from above $4,000/oz, with the interview pointing to broad market deleveraging, high oil-driven inflation, and elevated interest rates as the main recent headwinds. Harry Halewood said central bank demand remains a major tailwind, citing Goldman Sachs' estimate of roughly 79t of official-sector buying in August, more than four times pre-2022 averages.

On the upside, he cited bank forecasts of $4,250/oz from Bank of America and $4,650/oz from Goldman Sachs, arguing that the market does not expect a further sustained decline. He also flagged the U.S. midterms as a potential catalyst: a Democratic sweep could reduce support for conflict-related spending and AI/data-center expansion, potentially slowing inflation and prompting reallocation back into liquid safe-haven assets such as gold. He said miners offer leveraged exposure to bullion, with improving free cash flow and about a 2.7% dividend yield across major names such as Newmont and Kinross.