Analysts at Morgan Stanley are seen rolling back their calls for higher gold prices in the first half of 2020 on expectations of a US-China trade agreement.
“H1 2020 outlook is for 1515 USD/oz.
The risk of gold falling toward its bear case of USD1394/oz in H1 of 2020 if tariffs are rolled back.
Lower prices will, though, attract buyers back in.
Expects a weaker USD to support gold near term.
Fed to hold through next year …. will pressure haven assets, benefit equities.”
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