Gold to regain $ 1350 in H2 2018 - TDS
|Bart Melek, TDS Head of commodity strategy, expressed his view on gold prices this year in the latest research note.
Key Quotes:
"Given Powell's bullish view on the U.S. economy, increasing chatter of four hikes in 2018 and a potential upward shift in the distribution of the dots next week we would not be surprised to see precious metals take a run at the lower end of the ranges.
However, the weakness will only be temporary as Trump's protectionist rhetoric will favor gold in the long run - and that a slower than expected inflation rise could work in support of gold prices as well.
Money managers have been reluctant to reduce their exposure to the shiny metal, and with a 'go-slow' approach from the Fed, we could very well head back above $1,350 in the latter half of the year.”
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