Make Kitco Your Homepage

Gold price is all about the U.S. dollar and interest rates right now: RBC Wealth Management

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!

(Kitco News) Gold is most sensitive to the U.S. dollar and interest rate moves at the moment, according to RBC Wealth Management managing director George Gero. “Gold short-term reaction more about dollars and interest rates now, as all known political and economic headlines causing worries globally are priced in,” Gero says. In the long-term, gold still looks to the key psychological $2,000 an ounce level and silver is aiming at $30 an ounce. “Options on futures keep adding and may add to volatility. U.S.-China tensions increased worries, pandemics, political headlines and Wednesday Fed decisions and clues weigh on traders,” writes Gero.

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.