Our base case remains that safe-haven demand should fade further, assuming that the US economy does not slip into recession. The bull case remains a recession as it should lead to a significant pick-up in safe-haven demand. Meanwhile, silver should continue to move in gold’s slipstream.
Gold poised for weekly loss as US delays decision on Middle East involvement
Gold prices remained stable on Friday but are set for a weekly loss as President Trump delayed a decision on intervention in the Israel-Iran conflict.