The defensive posture that investors have embraced all summer is still evident, and it still favors owning gold as a hedge against global market risk. As I’ll explain in today’s report, the market’s “risk-off” mentality will continue boosting gold prices well into the fourth quarter of 2019.
Every time it appears that gold is ready to “correct” its recent gains, it finds a renewed safety bid and continues to higher levels. The metal has remained steadfastly above its rising 15-day moving average for the past three months, not yet closing decisively under it on either