Long-term looks good for Gold
“Ironically, higher rates now are good for Gold later on as they would drive rates lower faster along the long end of the curve. The resulting Dollar weakness should be accretive for Gold longer term too.”
“Since there have been a lot of references to skewing policy to favor the lower end of income distribution, we judge the cuts would be aggressive as high unemployment would hurt that demographic most. To the extent that cuts real rates to levels below previous cyclical norms, Gold should benefit.”
“We expect prices to trend above $1,925 later in the year, with a significant upside risk in the months to come.”
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