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The markets have been in fantasy mode since the U.S. presidential election… and gold has tanked. A number of obstacles, however, pose an imminent risk to markets' rosy scenario.
Our view on the long-term gold
price is unchanged. Investors will continue to be driven to gold as a safe
haven given the further loss of confidence in central banks, and the
uncertainty following Trump’s presidential victory.
In July gold continued its strong 2016 run as proactive investment demand for gold continues to drive the market and ineffective monetary policies set the stage for more potential global economic issues.
macroeconomic surprises raised global financial risks in June, and propelled
gold. On June 24, the day following the historic Brexit decision, gold reached
a new two-year high of $1,359 per ounce. Gold finished up 8.8% in June.
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