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Wall St., Main St. Expect Gold Prices To Remain Buoyant

Monday, 4 February 2019 21:59 WIB Gold Outlook Gold Corner

Wall Street and Main Street look for gold to keep climbing this week, according to the Kitco News gold survey. Many traders and analysts cited a dovish Federal Open Market Committee after a policy meeting this week, in which officials indicated they are pausing in the monetary-tightening cycle while awaiting more economic data. This tends to undermine the U.S. dollar, which helps gold. It also limits the so-called “opportunity” cost of holding non-interest-yielding assets such as precious metals. Wall Street voters remained bullish even in the aftermath of a strong U.S. jobs report on Friday that normally might hurt sentiment by rekindling rate-hike worries. The Labor Department said...

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RP998525
JPY99.2-0.01
EURUSD1.3066-0.0025
GPBUSD1.51090.0045

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