Gold Monthly: In Need Of A Fresh Catalyst

Summary

• Since reaching a record high above $3,500/oz in April, the gold rally has stalled and is in need of a fresh catalyst to help push it higher.
• Meanwhile, ETF buying, which has been another key driver this year, has been slowing down in recent weeks, indicating cooling investor sentiment.
• Still, the bullish drivers remain intact for gold, including central bank and safe-haven demand amid geopolitical and trade tensions.

spawns

By Ewa Manthey

Gold consolidates

But it’s still outperforming

Since reaching that record high in April, gold has consolidated in a tight range. Still, prices are up around 28% so far this year with the global trade war, geopolitical risks, and the central bank