Looming Israel-Iran conflict sees gold price and USD march in tandem - ‘Very powerful move to the upside’
-The gold market is holding solid gains above $2,400, trading near session highs as consumer sentiment falls sharply and inflation expectations rise in April.Friday, the University of Michigan said its preliminary consumer sentiment index fell to 77.9, down from March’s upwardly revised reading of 79.4. The data significantly missed expectations as economists looked for sentiment to remain relatively stable at 79.
– Policymakers have averted “a global recession and a period of stagflation” and brought inflation down considerably, but unmanageable debt loads and growing trade disputes continue to threaten growth, according to IMF Managing Director Kristalina Georgieva.Gold investors don’t care about higher opportunity costs as they hedge against fiscal excess – Invesco’s Kristina Hooper