DJIA28992.41
LIVE-224.83(-0.77%)
NDX9446.69
LIVE-181.14(-1.88%)

Gold to Extend Gain as Citi Says Low U.S. Rates Here to Stay


Thursday, 12 December 2019 19:50 WIB

GOLDEMAS


c_740_198_16777215_00_images_assets_GOLD_1.jpg

Gold’s got more room to rally as there’s little possibility of the Federal Reserve raising interest rates in 2020, according to Citigroup Inc (NYSE:C).

Futures on the Comex will average $1,575 an ounce in 2020, and could climb above $1,600, with an upside bias seen at the end of the year, Doshi said. Prices traded around $1,478 on Thursday, up about 15% this year.

Bullion is heading for the biggest annual gain since 2010 as central banks globally embraced looser monetary policy to try to boost growth that had been hit by the prolonged trade war. At its final policy meeting of 2019, the Fed left rates unchanged following three consecutive cuts and signaled they would stay on hold through next year. Chairman Jerome Powell said it would take “a significant move-up in inflation” that persisted before he would support any hikes, suggesting that’s quite distant.

Source : Bloomberg


RELATED NEWS

  • Gold futures rallied on Friday, posting a gain of 3.9% for the week and logging their highest most-active contract settlement since February 2013. "Gold has broken out of its historical shackles as a...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.