Trump says bet on New England in super bowl Gold price to hit $1,600 on geopolitical turmoil
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(Kitco News) - Gold’s next upside target is $1,600 an ounce, according to analysts who are confident that the gold rally is not over due to unresolved U.S.-China trade talks, weak global growth and dovish Federal Reserve expectations.
Gold prices made another solid advance on Tuesday, rising above $1,540 an ounce after erasing all daily losses from earlier in the session. December Comex gold futures were last at $1,535.40, up 0.25% on the day.
Traders were busy digesting U.S. President Donald Trump’s hawkish speech to the United Nations in New York on Tuesday afternoon, in which Trump said that “the future does not belong to globalists, the future belongs to patriots.”