Precious Metals Update

15 August, 2018

Gold bugs hold tight, brighter times ahead

Given our view that the dollar will remain strong into 2019 and that growth in jewellery demand will continue to soften, we have recently revised down our end-2018 forecast for the price of gold. That said, we think that the medium-term prospects are much brighter and expect the gold price to rally to $1,350 in 2019 and to $1,450 in 2020 when a slowdown in the US economy will prompt the Fed to cut rates.

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