Gold falls for six consecutive days, hitting a one-month low; institutions suggest it may be due to cross-asset reallocation.

汇通财经2026/03/18 16:37

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(1) Gold has declined for the sixth consecutive trading day, marking the longest losing streak since the end of 2024. During the session, the price dropped as much as 3.4%, hitting its lowest level in over a month. (2) The current decline in gold prices is mainly due to the resonance of multiple factors: the latest U.S. inflation data exceeded market expectations, intensifying concerns that the Federal Reserve may delay rate cuts this year; in addition, heightened tensions in the Middle East have pushed up energy prices, with crude oil strengthening on supply risk concerns. (3) Meanwhile, signs of escalating conflict in the Middle East have triggered a broad sell-off of global risk assets, including equities. Some investors, in order to supplement liquidity, have been forced to sell gold for cash. (4) ING commodities strategist Ewa Manthey commented: "This is more like a cross-asset reallocation. The rise in oil prices reflects supply-side risks, while the decline in gold prices is partly due to profit-taking and partly due to broader position unwinding in the context of a pullback in risk assets, a stronger dollar, and rising real yields."

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On October 9, Morningstar predicted that the revenue of Australian oil and gas producer Woodside Energy (WDS.AX) will grow by over 30% by 2030, outpacing any of its international peers. Woodside Energy’s share price dropped by 0.6% on the day to 32.12 AUD, after surging 2.6% in the previous trading session. The stock is poised to end a three-week losing streak, with oil prices rising due to escalating tensions in the Middle East, and is set for a 2.8% weekly gain O/R. Morningstar expects Woodside’s revenue to increase as major new projects come online, and forecasts free cash flow to exceed 7 billion USD after 2030, reflecting a 300% rise from 2025. The report added that market sentiment remains bearish, with the current share price below its estimated fair value of 44.00 AUD. Year-to-date, Woodside’s share price has risen 36.2%, while Santos shares are up 41.3%. (For the convenience of non-English speakers, Reuters has automated the translation of its reports into several languages. Since automated translations may be inaccurate or lack required context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for the convenience of readers. Reuters accepts no liability for any loss or damage arising from your use of automated translation functions.)

路透社•2026/10/09 02:16