Trade war heating up “exponentially”; gold to see tailwinds
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!
(Kitco News) - Gold saw a rally of almost 2% on Friday, bolstered by an escalating trade war and a still dovish Fed, expected to continue lowering rates, said Peter Hug, global trading director of Kitco Metals.
“This trade war with China is heating up exponentially,” Hug told Kitco News. “When you look at the overall scope [of the global economy], with all the central banks ready just to inflate as much as possible, it’s very difficult not to be in the gold market.”
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.