Brexit lifts gold
Gold had been advancing as dollar weakened with lower expectations of a rate hike this year. Chances of a rate hike this year grew even smaller after Federal Reserve lowered the pace of rate hikes in 2017 and 2018 at June policy meeting and Janet Yellen mentioned the Brexit as a downside risk to US economic outlook. Increased uncertainty for global economic outlook after Brexit boosted the appeal for haven metal further. Will gold continue rising?
Gold had been advancing as dollar weakened with lower expectations of a rate hike this year. Chances of a rate hike this year grew even smaller after Federal Reserve lowered the pace of rate hikes in 2017 and 2018 at June policy meeting and Janet Yellen mentioned the Brexit as a downside risk to US economic outlook. Increased uncertainty for global economic outlook after Brexit boosted the appeal for haven metal further. Will gold continue rising?
Trade closed: target reached