A Loss Of Faith In USD Is Propelling Gold To $1,400 - ABN AMRO | Metals Mine

  • A Loss Of Faith In USD Is Propelling Gold To $1,400 - ABN AMRO

    From kitco.com

    While many investors are turning to gold because of its safe-haven allure, one international bank says that a weak U.S. dollar is what will continue to drive gold prices higher. Georgette Boele, coordinator of F.X. and precious metals strategy at ABN AMRO, wrote in a report Wednesday that she remained positive on gold and reiterated her bank’s forecast for prices to push to $1,400 an ounce by the end of the year. She added that she is paying more attention to gold’s negative correlation with the U.S. dollar than its safe-haven appeal. “Gold has moved up in an environment of higher equity market volatility and ... (full story)

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SurfsUp
Jun 5, 2019 4:22pm
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Excellent point....

“The U.S. dollar is likely also being punished because the U.S.’s longer-term credibility is weakening. This may not be visible in EUR/USD, because the euro has its own challenges, but it is visible versus the Japanese yen, the Swiss franc and gold prices,” Boele said.

Feeling bullish on Gold. But, with the whipsaw behavior today, not sure when I should get in. Any thoughts out there?
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Metallurgy
Jun 5, 2019 5:14pm
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Might see a correction first?
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bigtx
Jun 5, 2019 8:26pm
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Amazing to me that everyone is loving on gold while silver is falling behind. Gold will remain king of scary times, but why not silver?
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