After gold ended the first half of this year on a positive note, the World Gold Council said it sees potential for a further rise in prices for the precious...
After gold ended the first half of this year on a positive note, the World Gold Council said it sees potential for a further rise in prices for the precious metal, but it also warned that risks to that outlook persist as questions continue to surround the prospects for the U.S. and global economy.
Gold should experience “stronger investment demand if economic conditions deteriorate,” it said, noting that an economic deterioration could be driven by a significant increase in defaults following tighter credit conditions or other “unintended consequences” of the high interest-rate environment. Gold in the first half of the year outperformed “all other major assets apart from developed-market stocks,” according to the World Gold Council report.
Minutes from the Fed’s June meeting released Wednesday show that some central-bank officials pushed for a June rate hike. — Juan Carlos Artigas, World Gold Council “If a mild economic contraction plays out, then our analysis shows that gold should continue to deliver steady returns in the second half of the year as bond yields remain stable and the U.S. dollar weakens,” Juan Carlos Artigas, global head of research at the World Gold Council, told MarketWatch.
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