Gold Forecast: RBC Report Reveals High Prices

gold bars
Written by Mike Hammer

RBC Capital Markets released a new report forecasting higher gold prices for 2019 and 2020.  Gold bulls can calm down though; RBC isn’t forecasting radically higher prices but rather “cumulative steps higher.”  Well, that just seems kinda boring. It’s been a down-and-up week for our favorite yellow metal as gold started off weak then popped back above 1300 yesterday.

This morning’s news offers a dramatic drop in the Empire State Manufacturing survey which indicates business activity is slowing compared to 2018, and that will serve to increase uncertainty in investors. The result could be some support for gold as investors creep toward hedges and safe havens.  Not in huge dramatic ways, but along the lines of the RBC report.  You can read more about it in today’s featured article.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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