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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