Gold on course for $1,400 amid ‘winnerless’ trade war between US & China

ArticleDeflationApril 4, 2018 - 7:52:19 AM

Price for gold bullion will soar to the highest level in nearly half a decade if global trade tensions escalate, says the head of Sprott US Holdings Rick Rule, a long-time resource securities investor.

Gold may reach $1,400 per ounce as early as this year, as the unfolding trade war between Beijing and Washington inevitably drives investors to traditional safe havens, dragging down the three-decade bull market in bonds, according to the analyst, as quoted by Bloomberg.

Spot gold closed at $1,337.27 per ounce following three straight quarters of gains with exchange-traded fund holdings hovering around their highest in five years...

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