Make Kitco Your Homepage

Watch For More Momentum In Gold As U.S.-China Trade Tensions Deteriorate - MKS PAMP GROUP

Kitco News

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

Momentum in gold is expected to continue to build as the U.S.-China trade tensions are left unresolved, according to MKS PAMP GROUP. “Expect the yellow metal to continue to build momentum as trade tensions between the U.S. and China show no sign of abating over the near term, while global growth concerns and central bank easing cycles add further fuel to the recent rally,” MKS writes. Monday’s price direction in gold is likely to be determined by trade and currency wars due to lack of macro data releases, adds MKS. “Interest remains evident broadly through USD $1,495 - $1,490, while hard support sits toward USD $1,480 - $1,475. Target on the top-side initially cut in around USD $1,510, with extension through USD $1,520.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.