Fear about slowing growth and the prospect of lower interest rates have pushed the price of gold higher, but analysts say it may be nearing the top of its run for now.
Gold has been moving higher since early May on fears that multiple trade wars would bite into economic growth and on expectations the Fed would cut interest rates.Gold futures for August were higher by more than $5 to $1,334 per ounce Wednesday afternoon, and are up 5% since the beginning of May.Fear about slowing growth and the prospect of lower interest rates have been pushing the price of gold higher.
On Wednesday, the dollar was higher and Treasury yields were lower. Stocks were also higher, both on expectations the Fed would cut interest rates and hopes the U.S. would not slap tariffs on all Mexican goods next week, as threatened by President Donald Trump.
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