Aberdeen’s Gold “said that markets heading into Wednesday’s monetary-policy meeting see a 71% chance of a rate hike and are pricing in a modest chance of two rate hikes next year. He added that expectations for interest rate hikes are at their lowest level since the start of the tightening cycle. Only a few months ago, markets were pricing in four rate hikes in 2019,” according to Kitco.
Some market observers believe commodities can bounce back in 2019 with gold and oil looking particularly attractive.
“In his latest report, Gold said that his base case is for gold prices to trade in a range between $1,275 and $1,325 in the next 12 months; however, he added that there is a growing probability that the firm’s bull-case scenario comes to fruition, which would see gold prices trade between $1,375 and $1,425,
according to Kitco.
For more information on the gold market, visit our gold category.
Tom Lydon’s clients own shares of GLD.