Monthly Precious Metals Report
(Aug 2016)Source: ScotiaMocatta
Gold prices spent most of July consolidating but prices have held up well
considering how much profit taking has occurred. Prices are trying to
push higher again, but there is still room for disappointment.
- After rallying on Brexit turmoil, which has subsided, Gold is
now focused on the likelihood of the Fed staying on hold.
- The opportunity cost of holding Gold continues to shrink as
more central bank interest rates and bond yields turn negative