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.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
