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.”
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