Spot Gold Watch in 2019 – Golden Opportunity – Gold bulls seized the initiative in the final months of 2018 and there’s plenty to suggest the haven may hold up.
Look for support for prices at a six-month high as the Federal Reserve goes way slower on rate increases, and investors seek protection from equity market turmoil and slowing global growth.
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There may be more supportive headlines near term. A golden cross — as the 50-day moving average tops its 200-day counterpart — is close, and a few more tons added to exchange-traded funds will lift holdings to the highest since 2013.
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A Dec. 11-19 survey of 20 analysts and traders reflected a positive tone, with the median estimate of $1,325 an ounce. Futures prices slipped Friday after topping $1300.
