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Gold's Rally Meets JPMorgan Warning as the Curtain Falls on 2019
Tuesday, 31 December 2019 16:01 WIB | PRECIOUS METALS |SILVEREMASGOLD

Gold pushed deeper into the $1,500s in a concerted year-end rally as the dollar hit a six-month low. The jump came against a backdrop of record equity prices, easing trade tensions, and a warning from JPMorgan Asset Management that bullion may not offer sound portfolio protection.

Prices climbed for the sixth time in seven sessions, with the traditional haven set for the biggest annual gain since 2010. Gold is poised to close out a fifth quarter of gains, a feat that the commodity hasn™t managed since 2011. Exchange-traded fund holdings are rising.

Spot gold climbed as much a 0.6% to $1,524.23 an ounce, the highest level since Sept. 25, and traded at $1,523.18 at 6:32 a.m. in London, up 19% this year. Silver, platinum and palladium have all advanced in 2019, too. The Bloomberg Dollar Spot Index is on course for the biggest quarterly loss since the first three months of 2018.

Source : Bloomberg

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