Gold Price Gains May Be Capped as US Dollar Haven Demand Returns

From dailyfx.com

Gold prices shot higher while bond yields dropped as Bank of England Governor Mark Carney spooked the markets, saying the outlook for economic growth is “considerably weaker” in the second quarter as global trade tensions increase downside risks. That bolstered the appeal of non-interest-bearing assets epitomized by the yellow metal. The risk-off jolt also weighed on cycle-sensitive crude oil prices. A broader market-wide selloff did not materialize however, with stocks recovering into the session close after a brief downswing as Mr Carney’s ominous remarks fueled Fed rate cut speculation once again. The ... (full story)