RJO's Pavilonis: Weak Equities Mean Boost For Gold Prices | Metals Mine

  • RJO's Pavilonis: Weak Equities Mean Boost For Gold Prices

    From kitco.com

    Look for gold to continue to benefit from weaker equities, said Daniel Pavilonis, senior commodities broker with RJO Futures. As of 9:55 a.m. EDT, Comex August gold futures were $10 higher to $1,302.40 an ounce. The rise came with the Dow Jones Industrial Average nearly 300 points lower after U.S. President Donald Trump threatened Mexico with more tariffs over immigration. “If equities continue to come off, that will be supportive for gold,” Pavilonis said. He also commented that gold has bounced hard off of its 50-month moving average on a monthly chart. The market overall has been largely sideways since 2016, ... (full story)

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perma-bull
May 31, 2019 1:20pm
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“Gold might also have been supported by vice Fed chairman [Richard] Clarida stating yesterday that if inflation remained low, global growth remained weak and/or the financial markets became strained, the Fed would rethink its monetary policy,” Commerzbank said
There are a lot of doves at the fed lately. Aside from being long I plan on also picking up some more coins this week.
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