Gold Seen as a Top Idea For 2019

While Powell’s comments brought some relief to gold, data indicate there is still an almost 83% chance that the Fed proceeds with a fourth interest rate hike next month. Institutional buying could lift bullion next year.

“Although gold has struggled to gain widespread attraction among international investors, Legg Mason said that affinity for the yellow metal is slowly growing,” reports Kitco. “The report noted that gold’s allocation in a portfolio increased to 5% in 2018, up from 4% reported last year.”

For more information on the gold market, visit our gold category.

Tom Lydon’s clients own shares of GLD.