Renewed trade war fears are breathing life into the gold market as the possibility of a rate cut enters investors’ minds, this according to Phil Streible, senior market analyst at RJO Futures.
“Potentially down the road, if equities slow down, and if the global economy slows down enough, you might see the Fed cut rates, that’s what’s breathing life right now into that gold market,” Streible told Kitco News.
His comments come as gold reacted positively to news that the trade war has escalated, with spot gold trading 1% higher on the session Monday.