Opinion with Peter Hug
Gold Reacting To Tariff Threat Again
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
(Kitco News) - Gold remains influenced by the threat of increased tariffs on China from the U.S. On Friday, President Trump’s comments that $200 billion worth of tariffs would be imposed on China created a flow back into the dollar and drove gold below the $1,200 mark. We continue to believe that a resolution or at the least a moderation of the bluster is likely and remain constructive on the metals complex. We may continue to see consolidation until the Fed meeting next week and would consider a “buy the news” trade, after the expected rate announcement. Technically, gold shows support at $1,192, with resistance firmly in the $1,207 area.
