Where to for gold? Here's a projection to 1600 next year.

Author: Eamonn Sheridan | Category: News

Collating some comments from UBS on their outlook forecast for gold next year.

Currently:
  • Gold continues to trade below its 100-day and 50-day moving averages
  • struggling to break through. 
  • a holding pattern for now, waiting for the next set of catalysts
What to watch:
  • How economic data plays out - particularly in the US
  • as well as news flow on US/China trade talks
  • ultimately it matters how all this feeds through to Fed policy and rates
For ahead:
ongoing consolidation in the market is healthy
  • creating room for further gains
  • and likely also easing some of the persistent concerns on positioning
uncertainty likely to persist
  • rates likely to stay low
can trade through $1600 in 2020
  • $1550 over the next three months
Collating some comments from UBS on their outlook forecast for gold next year.

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