Feb 2nd, 2026
Gold Rally Was Becoming 'Unsustainable,' Saxo Bank Says
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."
