UGLDF - Gold: Expect Upward Momentum To Continue
At the beginning of June, I made a bullish argument for gold and argued that the metal could breach the 1900 level in the next few months.
Since then, gold has continued an upward climb, reaching 1812 at the time of writing.
(Source: Investing.com)
What is particularly interesting is that gold demand appears to have outpaced the demand for traditional safe haven currencies, such as the Japanese yen and Swiss franc.
(Source: Investing.com)
In particular, risk-off currencies such as the yen have been seeing a steady rise against the dollar since 2018.
(Source: Investing.com)
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