Gold: Another Upside Breakout to be Confirmed
George Lam May 18, 2020 9:42 PM
Spot gold surged pass its high marked in April, showing initial signs of a second upside breakout...
Spot gold surged pass its high marked in April, showing initial signs of another upside breakout. Federal Reserve Chairman Jerome Powell said in a CBS's interview "it may take a while" for the U.S. economy to recover, where the process "could stretch through the end of next year."
While the debate about negative U.S. interest rates continues, Bank of England Chief Economist Andy Haldane said BOE is looking at monetary policy options, including negative interest rates and purchasing riskier financial assets.
These suggest that the ultra-loose monetary policies of major central banks might at least last for a certain period of time, which is likely to support gold prices.
Source: TradingView, Gain Capital
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