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Gold is range-bound for now: $1,500-$1,525 - RBC Wealth Management

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The yellow metal is likely to continue to trade range-bound in the short-term, says RBC Wealth Management managing director George Gero. “Looking for continued range bound gold $1,500 to $1,525 for now, possible $1,550 later as more politics in the U.S. heat up in the press.” Gold is holding its gains above the key $1,500 an ounce level despite the U.S.-China trade talks optimism, Gero adds. “Gold … [is] supported by many worries in global economics, unrest in Chile, Middle East worries, Turkey-Syria.”

By Anna Golubova of Kitco News;


Trade talks guide investor sentiment - Capital Economics 

Monday November 04, 2019 08:53

One of the most significant price drivers in the commodity space right now is still the U.S.-China trade talks, writes Capital Economics. “The economic data [last week] were not uniformly positive, but should still have assuaged some concerns about the outlook for global growth. Instead, prices continue to be pushed and pulled by developments in the U.S.-China trade dispute,” Capital Economics economists state. “Looking ahead, any news about the ongoing negotiations between the U.S. and China on trade will be a major driver of prices. It will be fairly quiet on the data front next week. China is set to publish its October trade data on Friday.”

By Anna Golubova of Kitco News;


Signs point to U.S.-China ‘Phase One’ deal in the coming weeks, U.S. dollar firm - BBH 

Monday November 04, 2019 08:32

The U.S. dollar is beginning the week on a strong footing, which will be hard to sustain, writes BBH Global Currency Strategy. “DXY is up for the first time since October 25 after a week straight of losses. Given the lack of any major US data or events this week we think it will be hard for the dollar to sustain significant upward momentum,” the strategists state. All signs are still pointing to the U.S.-China ‘Phase One’ trade deal materializing in the coming weeks, BBH adds. “Commerce Secretary Ross said that talks were ‘very far along’ ahead of a meeting with Prime Minister Li at a regional ASEAN summit in Bangkok. Ironically, Asian leaders are expected to announce the China-backed Regional Comprehensive Economic Partnership that would lower tariffs amongst its members, which doesn’t include the U.S.” 

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