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Gold to remain stong, silver expected to rise

ByVictoria

Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve’s interest rate trajectory.

Spot gold XAU= was up 0.3% to $3,330.69 an ounce at 1122 GMT. U.S. gold futures GCcv1 were up 0.3% to $3,351.60.

“Gold should remain supported as long as global trade tensions risk escalating further, or even just staying elevated for longer.”

“We expect silver to reach $38/oz in the coming months. Market deficit considerations and a weaker USD hold the key for even higher prices – a test of $40/oz is possible,” UBS said.

Source – Reuters

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