Gold Fever is Spreading | Metals Mine

  • Gold Fever is Spreading

    From fxempire.com

    Indeed, what a difference a fortnight makes. From a vocal chorus of indifference and reliant on central bank demand to Friday’s fear of missing out momentum which propelled prices to a new 2019 high. “Gold is back in play, and Blue horseshoe loves “yellow metal”.” Gold climbed to the highest levels in more than a year. But adding to Golds allure is that prices traded well despite rebounding equities and a firmer USD. And while the prospect of lower U.S. rates and dovish Fed expectations remain supportive, Gold appeal goes well beyond that and is moving higher on own its accord as a safe and inexpensive ... (full story)

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bigtx
Jun 17, 2019 2:25pm
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"While the Gold bulls were a bit disappointed $1350 didn’t hold, we did notch a 12-month high suggesting at minimum Gold’s relevance as an essential safe-haven asset will continue to build."

That seems like the most accurate line in this thing. People have been accumulating, as evidenced by touching that high mark. The Fed will provide some clarity Wednesday, but I think we are sideways for some time now. People have been scared, but some the dust will settle and those fears should go away short-term.
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