A couple of notes from late last week, JPM and Citi turning less favourable on gold.
But … in their reasoning you get a good summary of what to watch out for:
- a boost to global optimism is less positive for gold
- (geopolitical and economic concerns underpin demand for gold as a haven asset - thus any more hopeful outlook for US-China trade talks takes the shine off it)
In the past few days we've had China saying they were more hopeful, Navarro saying no and then Trump saying he was positive …. so yeah, sentiment swings as fresh comments hit.
Headline ping-pong continues …
