Part 4/10:
Interestingly, Fenick highlighted a notable trend concerning retail investors in Eastern regions like China and Saudi Arabia. Historically, these markets tend to shy away from buying gold at all-time high prices, yet they are currently purchasing aggressively. He explained this behavior as indicative of a “fear of missing out” (FOMO) mentality, suggesting that investors anticipate further price increases in the future.
As gold prices fluctuate, with Fenick indicating a “new floor” being established above historic lows, it appears that retail investors may be betting on the upward trajectory of gold prices, a sentiment shared by several banking institutions which have raised their forecasts on gold prices significantly.