Precious metals have been relatively quiet for the last 5-weeks as they’ve been weighed down by the strong oil price and rising bond yields. Once President Trump and Iran can agree on a deal gold and sliver are likely to trade higher, the noises on Sunday were encouraging, albeit again: Trump said that US representatives are having “very positive discussions” with Iran that could lead to something “very positive for all,” but didn’t offer additional details.
- We can see gold trading above $US5,000 in the coming year but it will need to see an end to the war and the knock on hawkish interest rate fears.
MM is cautiously bullish towards gold ~$US4,625
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