What to Expect From the Gold Price Ahead of G-20

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  • Published on Jun 27, 2019
  • With global growth worsening and the trade war tensions intensifying, a rise in gold prices could be coming by September, according to Bill Baruch, founder and president of Blue Line Futures.
    “Global growth has been deteriorating for a while, and now it’s the trade war just speeding the process up,” Baruch said. “If we see progress on the trade war, then the dollar could sell off, and gold lifts higher.”
    Baruch also said gold could see levels of $1,484 over the next two months, as the path of least resistance is both technically and fundamentally higher. After that, gold could see some seasonal resistance.
    “Looking at the Fed being more dovish than expected in the meeting last week, ultimately that helped lift gold higher, by putting a little bit of pressure on the dollar,” he said. “The dollar hasn’t really sold off, and one of the reasons why is because there’s a lot of safe-haven tailwinds in the dollar because of the trade war.”
    “This is a bullish breakout above the five-year trend,” Baruch noted. “It’s a matter of where we go from here in the sense of holding support, and a more immediate term move higher, or consolidation before moving higher.”
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Comments • 4

  • Patong Phuket
    Patong Phuket 2 months ago

    On monday gold and silver will crash down belove 1350 $ and 14 $

  • Iranwardotcom
    Iranwardotcom 2 months ago +2

    Wrong, it comes down to John Bolton giving trump the green light to bomb Iran then it’s going to the moon until then it’s you’re guessing Gold is a Safe haven.

  • SuperiorSeven
    SuperiorSeven 2 months ago +1

    Bill is always a fantastic guest!!

  • Bk Bk
    Bk Bk 2 months ago +4

    Its summer and hot
    If the banks haven't dropped their shorts by now its time for a good spanking.