Gold smiles on US rate cut expectations   


20 June 2019 : Gold is shooting to the stars, comfortably securing a fresh 5-year high above $1390 this morning thanks to a downbeat Federal Reserve.


It is widely known that Gold flourishes and blooms in low interest rate environments, with a weakening Dollar supporting upside gains. With geopolitical tensions, ongoing US-China trade developments and concerns over slowing global growth clearly straining risk sentiment, Gold is likely to remain in fashion moving forward. In regards to the technical picture, the precious metal is heavily bullish on the daily charts. The bullish momentum has the potential to send prices towards $1400 by the end of this week.


Source : Lukman Otunuga, FXTM Research Analyst 


Reporting for EasyKobo on Thursday , 20 June 2019 in Lagos, Nigeria


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