Gold Surges To 14-Month High: ETFs To Tap
Zacks Investment Research | Jun 16, 2019 10:45PM ET
Gold price climbed to more than $1,350 per ounce, touching a 14-month high and gaining for the fourth straight week — the longest run since January. Hopes of a Fed rates cut and investors’ flight to safety fueled by a myriad of woes fueled the rally in the metal.
The Fed early this month hinted at interest rates cut if needed, given the implications of trade tensions on the economy. Speculation increased all the more with the latest weak job data and subdued inflation. Lower rates will continue to weigh on the dollar against the basket of currencies, raising the yellow metal’s attractiveness as it does not pay interest like fixed-income assets (read: Zacks Investment Research
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