Gold to head higher, but uptrend stalled temporarily – JP Morgan Chase

In the view of the cross-asset fundamental strategy analysts at JP Morgan Chase, gold prices are likely to head higher amid a patient Fed.

Key Quotes:

“The background to their view on gold includes their expectations that the US Federal Reserve is likely on hold for rate hikes well into 2020.

Lower real rates are part of the Fed's strategy to run a hotter economy.

We think gold's uptrend has stalled temporarily rather than ended for the cycle.”

Extra Reading: Gold drops to 2-week low as Asia responds to recent risk-on, 100-day SMA on radar

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