Gold Price Forecast 2020: XAU/USD bulls likely to remain in control
By Omkar Godbole
Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020.
At press time, the yellow metal is trading at $1477 per Oz, representing 15.25% gains on a year-to-date basis. Anything above 13.2% would be the biggest yearly gain since 2010 when prices had rallied by 29.6%.
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- Gold price has put on a good show in 2019 on dovish Fed, trade war and recession fears.
- Fed's willingness to allow inflation to run hot and balance sheet expansion could keep gold better bid in 2020.
- XAU/USD price technical charts are reporting a bullish continuation pattern.
Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020.
At press time, the yellow metal is trading at $1477 per Oz, representing 15.25% gains on a year-to-date basis. Anything above 13.2% would be the biggest yearly gain since 2010 when prices had rallied by 29.6%.
Trade war, recession fears and dovish Fed pushed gold price higher in 2019
The year gone by will be remembered for the US-China trade war escalation, persistent recession fears and more importantly, for the US Federal Reserve’s remarkable dovish U-turn.Read The Whole Story
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