Based on the near-term outlook for real rates, as well as uncertainty over Brexit, rising populism in Europe and Trump’s trade and foreign policies, Metals Focus analysts see gold testing $1,475 an ounce this year. If so, that would put the yellow metal at a four-year high.
In case you haven’t already noticed, inflation has been creeping up since July. In February, the most recent month of available data, consumer prices advanced at their fastest pace in five years, hitting 2.7 percent year-over-year.
The European Securities and Markets Authority (ESMA) presented its recommendation to the European Commission on extending the European Alternative Investment Fund Managers Directive’s (AIFMD) passport to funds and fund managers in key jurisdictions outside of the EU. This would allow these ‘third countries’ to manage and market their funds to investors based in the EU.