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POPULAR NEWS
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RBC's Gero Sees Gold Hitting $1,400 By End Of 2018
Tuesday, 2 January 2018 11:39 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold prices should see a steady rise in 2018 as inflation picks up and competition from equity markets slows down, according to George Gero, managing director at RBC Wealth Management.

In an interview with Kitco News, Gero said that he sees gold prices rising to $1,400 by the end of 2018. His comments come as gold has found renewed momentum during the final weeks of the year in what has been a relatively quiet holiday trading period.

Gero said that he is not surprised with gold™s year-end push as it is in line with his unofficial survey conducted during the International Precious Metals Institute (IPMI) conference in late-June. He shared his results with Kitco News, noting that the most bullish outlook was for prices to end the year at $1,950 an ounce, while the most bearish vote was for gold prices to fall to $1,010. The average of the survey was for prices to end 2017 between $1,315 an ounce and $1,325 an ounce.

Looking ahead, Gero said that it is difficult to determine if gold will hold these holiday gains when traders come back in full force in the new year; however, he added that growing concerns over record valuations in equities will keep a steady bid in gold.

œThe biggest competition for gold in the new year will be equities, he said. œBut I™m not sure you are going to continue to see record equity markets next year and with gold prices over $1,300 asset allocators will be more interested in diversifying back into the metal.

Another important factor for gold next year will be bond yields, added Gero, but noting that he sees limited impact in the long-term.

œThe Federal Reserve has been following the bond market not leading it, he said. œIf the yield curve continues to flatten the Federal Reserve not be aggressive as they expect in 2018. That will keep bond yields in check.

While gold is seeing its best bull run since 2010, the yield curve, the spread between 10-year bond yields and two-year bond yields, is ending 2017 near multi-year lows. A low yield curve is positive for gold as a non-yielding asset.

With inflation expected to rise, the question Gero said that investors need to ask themselves is if real interest rates push higher or remain at current low levels.

œI think you are going to see gold push steadily higher in 2018, echoing a natural rise in inflation, he said.

Source: Kitco News

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POPULAR NEWS
Gold Futures Fall to 2-Week Low as Haven Demand Wanes

Gold declines to a 2-week low as demand for a haven eased amid cooling geopolitical tensions and a rally in the dollar. Bullion futures for delivery in June fell 1.1% to settle at $1,324/oz at 1:30pm on Comex in New York, its third consecutive decline. It touched $1,323.80, lowest since Apr. 6. Bloomberg Dollar Spot Index climbs to highest since Jan. 18.  œThe sell-off in gold is mainly due to the strength in the dollar index,Naeem Aslam, chief market analyst at...

Gold futures settle higher for first time in four sessions

Gold settled higher Tuesday, for the first time in four sessions, finding support as a steep decline in a benchmark U.S stock index drove haven demand for the precious metal. June gold climbed by $9, or 0.7%, to settle at $1,333 an ounce. Source: Marketwatch

Gold On The Defensive - Peter Hug

On holiday last week, I am missing the nuance of the past few trading days. We suggested that the technical picture was looking positive with the caveat that $1,355 on a close basis was necessary to create further upside momentum. Looking at last week's charts, traders were unable to push gold through this level. The weakness overnight was generated from two factors. The first was North Korea's statement that it was prepared to suspend its nuclear program. This may prove to be a ploy to get...

Dollar remains lower as 10-year Treasury yield hits 3%

The U.S. dollar on Tuesday weakened slightly against its major rivals, but remained near three-month highs, as the 10-year Treasury yield hit the psychologically important 3% level for the first time since 2014. Rising government bond yields have been a driver for the greenback over the last several sessions, though the correlation was nowhere to be found in Tuesday™s session. The ICE U.S. Dollar Index which gauges the buck against a basket of six currencies, was down 0.2% at 90.736. A...

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