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Gold Futures Head For Longest Winning Run Since 2016
Friday, 16 August 2019 15:16 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold futures are poised for a sixth weekly advance, the best streak in more than three years, on heightened trade uncertainty and concerns about slowing global growth.

China called looming U.S. tariffs a violation of accords reached by Presidents Donald Trump and Xi Jinping, vowing retaliation, while Trump said Thursday that any deal must be œon our terms. Bond investors are locking horns over whether the inversion of yield curves really means the global economy is headed for recession. The last five times the yield on 10-year Treasuries dropped below those on two-year securities, a contraction followed.

Gold, already trading near a six-year high, is set to extend gains on central-bank purchases and demand for exchange-traded funds backed by the metal, according to Jeffrey Currie, global head of commodities research at Goldman Sachs Group Inc.

U.S. gold futures -0.4% to $1,525.80/oz on Comex at 8:05am in London; +1.1% this week, longest winning run since July 2016. Spot gold -0.5% to $1,515.41/oz; +1.3% this week. Prices touched $1,535.11 on Tuesday, the highest since April 2013.

Source : Bloomberg

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