U.S. Bank: gold 'remains in a bullish trend'
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(Kitco News) - Loose monetary policy should continue to underpin gold prices, said a research note from U.S. Bank Asset Management Group. The Federal Reserve has slashed U.S. interest rates to near zero to counter economic fallout from the COVID-19 pandemic and has also launched a number of other programs, including quantitative easing. Comex June gold Monday peaked at $1,775.80 an ounce, the contract’s most muscular level since mid-April, before backing down. “Gold rose 2.5% last week and remains in a bullish trend,” said U.S. Bank. “The potential for future inflation resulting from central-bank money printing should keep gold prices supported.”
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