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Gold Soaring On US/China Fears & Dovish Fed View

From tickmill.com

Gold prices are enjoying a perfect storm of bullish drivers currently. The futures market has been in firm ascent over the last month and shows no signs of slowing down as price continues to print fresh record highs today. A combination of dovish Fed expectations and fresh uncertainty over US/China trade is seeing demand for the yellow metal surging higher. A return to hostile trade rhetoric between the US and China has sparked a pullback in risk assets which is feeding into higher gold prices here and looks set to continue near-term while tensions remain elevated. Yesterday, Fed chairman Powell sparked fresh selling ... (full story)

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  • Category: Fundamental Analysis