Gold To Shine In 2020: ETFs To Consider
Zacks Investment Research | Dec 05, 2019 10:10PM ET
Although gold lost it sheen with the start of the fourth quarter on renewed risk-on sentiments, the outlook seems bright heading into the New Year. This is especially true given the looming uncertainty over the U.S.-China trade deal and fresh tariff threats from Trump. Notably, the precious metal is up more than 13% so far this year.
We have highlighted some solid reasons why gold will remain strong next year.
Trade & Tariff
With no imminent phase one trade deal, the prospect of the imposition of more tariff on Chinese goods from Dec 15 increases. Additionally, Trump is planning to restore tariffs on steel and aluminum imports from Brazil and Argentina in retaliation to currency devaluation. The administration also proposed tariffs of up to 100% on $2.4 billion worth of French products, including sparkling wine, cheese and other goods, to penalize France for a new digital services tax that has hit U.S. technology companies (read: Original post
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