Gold (GC=F) prices tick higher on Tuesday as softer-than-expected US inflation data fuels new hopes for the Federal Reserve to cut interest rates. Bob Iaccino, Path Trading Partners chief market strategist and Co-Host of The Futures Edge Podcast, breaks down why he still sees upside for gold and how peoples should be investing into the commodity.
Gold markets gain ground as traders focus on U.S. inflation data.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
After a barnstorming run that saw gold prices hit record highs in April, Citi is reining in its short-term expectations. The bank has lowered its three-month gold price target to $3,150 per ounce, down from $3,500, and expects the precious metal to consolidate between $3,000 and $3,300 over the coming months.
During the relief rally staged by markets after the U.S.-China trade deal, the price of gold faltered and now stands 5% below its peak set in the first week of May. Steepening futures contracts and central bank purchases, though, suggest that underlying demand is robust and this year's rally still has legs.
Gold prices suffered a hefty decline Monday, losing more than 3% as trade tensions ease, but some strategists say that it's not yet time to take profits — and that the precious metal may still rally to fresh record highs.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.