Commentary on both the US dollar and gold from TD, says gold will start to rebound in the final quarter of 2018
- Prices to seen average $1,290 in Q3 2018
- 1300 in Q4
- to average $1,375 an ounce in the last three months of 2019
- could touch $1,400
Bart Melek, global head of commodity strategy at TD Securities in Toronto
- "As time moves on, there'll be less and less reasons to get into the U.S. dollar, which will likely reverse some of the flows
- We do ultimately think that as we move into 2019, the U.S. dollar will weaken, which is a very powerful fuel for the gold complex
More on why he is bullish:
- Fed to hike another two or three times next year before ending its tightening cycle
- fully valued equities
- geopolitical risks
- downward trend in mine supply
via Bloomberg
