There are solid reasons for Gold and Silver to keep moving higher.
There is more stimulus to come. EU just approved a 750bn euros fund for Corona recovery. That's a huge slosh of liquidity right there. Remember, they are at negative rates.
There is more stimulus to come. EU just approved a 750bn euros fund for Corona recovery. That's a huge slosh of liquidity right there. Remember, they are at negative rates.
The increase in COVID-19 cases globally, especially in the US, mean that the Fed is likely to ease more which will suit gold upside even further
Fed officials have warned that the US outlook is getting worse and easing is the answer.
US is at zero rates.
Fed officials have warned that the US outlook is getting worse and easing is the answer.
US is at zero rates.
BOE is expected to add more stimulus to the UK economy next month as it is stuck with Brexit and COVID-19 struggles.
BOE is all set to take UK to negative rates
BOE is all set to take UK to negative rates
Gold and Silver miners are hitting 52w highs or very close to it. The uncertainty in global economy will continue.
it's a question of 'when' and not 'if' - when we will face a second wave of COVID-19.
it's a question of 'when' and not 'if' - when we will face a second wave of COVID-19.
Add to this, election picture in US. More stimulus likely in July end when some US jobs support ends. Even the furlough scheme in the UK will be running out in October bringing in more stimulus.
Technical picture of both Gold and Silver continues to get more bullish specially after this week moves and breaking out of consolidation zones
Disc : Invested and recommended to our clients. Gold Since Dec 2018 and Silver since Sept 2019.
Disc : Invested and recommended to our clients. Gold Since Dec 2018 and Silver since Sept 2019.
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