The future of gold is bright.
Investors are also looking to the Group of 20 summit this weekend, where Presidents Trump and Xi Jinping are scheduled to meet to discuss U.S.-China trade.
Investors are taking note. Gold exchange-traded funds have been on the rise, with the largest fund in the commodity space seeing record inflows at the end of last week. And buyers of gold jewelry, from Tiffany to Rolexes, are joining the ranks of those benefiting from the rally. In addition to the Fed’s stance on interest rates, the latest worsening of U.S.-Iran relations furthered the sharp rally in gold this week, “with the easier way out — diplomacy — now off the table, according to Iranian officials,” said Jingyi Pan, strategist at IG Asia in Singapore. “The rise in gold prices into Tuesday had likely been a knee-jerk as the market ponders what could come next in this conflict.
Chinese officials this week said both sides need to be prepared to compromise for talks to succeed, but U.S. officials have so far maintained a hard line.
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