Gold needs to test support but prices can still end the year much higher - State Street’s Milling-Stanley

Gold needs to test support but prices can still end the year much higher - State Street’s Milling-Stanley

- Although the Federal Reserve has been cryptic regarding the timing of its easing cycle, the central bank is firm that it is not looking to raise interest rates anymore, which should ultimately be positive for gold, according to one market strategist. – Investment bank Goldman Sachs announced on Friday that it has reached an in-principle settlement agreement to resolve an outstanding class action lawsuit filed in 2014 related to the firm’s platinum and palladium trading.

- Central bank demand continues to transform the gold market as official sector purchases increased by a net 16 tonnes in March, according to the latest data from the World Gold Council. - Today's job numbers have significantly missed expectations, indicating a potential shift in the economic landscape that might urge the Federal Reserve to reconsider its interest rate strategy and cut earlier than anticipated.

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