Gold Excpecting A Big Fall

4 hari yang lalu

Gold futures slip, but remain on track to finish the first trading week of the year up on safe-haven demand. Futures are down 0.4% at $2,657.70 a troy ounce, buy have gained 0.2% on-week. While the gains are somewhat muted, a simultaneous rise in gold and the U.S. dollar as equities slump is characteristic of periods of safe-haven traction, writes FxPro's Alex Kuptsikevich. The outlook for gold and the dollar now depends on the macroeconomic situation, particularly the threat of trade wars, Kuptsikevich says in a note. U.S. President-elect Donald Trump has threatened a number of tariffs on goods after taking office in mid-January. Global speculators are likely to step up their gold buying in anticipation of China and other emerging markets favoring gold over dollar-denominated bonds, Kuptsikevich adds