The gold race is back on track and bullion is well positioned to reach new peaks. Trump’s decisions to slap new tariffs against China pushed investors to further bet on the precious metal and the price quickly recovered after the fall seen in the hours which followed the FOMC meeting.
Futures prices are now playing with the resistance area of $1,450, while the spot price is around 1% lower, with a trend that still appears bullish. The scenario is slightly more complicate for silver, as the component of the demand for this metal coming from industrial sector is much higher than gold (where jewellery and investment dominate) and the trade war could have a more significant impact on the grey metal.
