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Gold Price Forecast: September 2019 - Will The Correction In Gold Prices Lead To More Gains? [Video]
ANALYSIS | Sep 10, 22:54 GMT
Gold has been on an incredible bull-run throughout 2019, with the precious metal surging over 20%, so far this year.
Finally, gold has started to show signs of a much needed healthy correction following its impressive rally since the beginning of January.
Gold hit a six-year high this month as central banks eased monetary policy to address the slowdown in global growth. This week, traders expect the European Central Bank to unleash more stimulus, while next week the U.S. Federal Reserve is seen cutting rates again.
Traders have priced in a 25 basis points cut in interest rates by the Fed at their September 17-18 meeting and over 100 basis points of easing by the end of next year. Ultimately, the Federal Reserve is expected to reduce interest rates to zero within the next two years.
Lower U.S. interest rates put pressure on the dollar and bond yields, whilst significantly boosting the appeal of assets such as precious metals.
With gold prices still well above historical averages compared with silver and platinum – gains in gold signal further upside for the other precious metals as well.
Gold
Traders looking for cheaper entries into precious metals with significant upside-potential should also keep a close eye on silver and platinum. These metals have lagged behind gold, up until now – but could be on the verge of outperforming the yellow metals 2019 gains, in the months ahead.
Where are prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold with the latest price forecast and predictions:


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