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Gold is moving back towards $1,500: RBC Wealth Management

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Gold is making a move back towards the $1,500 an ounce area, says  RBC Wealth Management managing director George Gero. Precious metals investors are waiting for more Brexit and the U.S.-China trade talks news. But, in the meantime, the U.S. dollar is taking a hit, which is pulling gold higher, writes Gero. “Open interest shows more bargain hunting with gold … Some better China outlook on tariffs as traders feel more optimistic. All this helping metals somewhat as dollar index pulled back some, but prices can turn quickly on different headlines now,” he adds.

By Anna Golubova of Kitco News; agolubova@kitco.com

 

Eyes on Brexit as volatility remains high in the UK - Bannockburn Global Forex

Monday October 21, 2019 09:03

Brexit remains the focus of attention on Monday as investors await more news with volatility still high, according to Bannockburn Global Forex. “[PM] Johnson will try again today to push the bills through Parliament. There still seems to be much political maneuvering, and it is not clear whether much progress will be achieved today,” writes Bannockburn Global Forex chief market strategist Marc Chandler. Despite the uncertainty, British pound is trading stronger, nearing a multi-year high against the U.S. dollar earlier on Monday. “Many market participants seem to remain optimistic that Prime Minister Johnson's plan will ultimately succeed,” explains Chandler. Optimism is stemming from the fact that a no-deal Brexit seems more and more like an unlikely scenario, he adds. 

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