Wall Street Journal convey the info from analysts at Citi:
- A win by Trump, who proposes tax cuts, would likely support equities instead of gold
- Gold fell by 8.2% in the month that followed Trump’s 2016 victory
- Gold is held by some as a hedge against uncertainty, has tended to struggle in the weeks following most U.S. elections since the 1980s
Citi still like buying dips:
- bull market remains intact
- expect prices to rise to $3,000/oz over the next six months (weakening US labor market and rising ETF demand)
This article was written by Eamonn Sheridan at www.forexlive.com.
