Gold prices tumble from record highs from earlier last week, ING’s commodity experts Ewa Manthey and Warren Patterson note.
Trade war to continue bolstering safe-haven buying
“Even Gold – traditionally a safe haven – tumbled from a record high it had reached earlier last week as investors sold off the precious metal along with other asset classes to cover losses elsewhere. Still, we believe this should be short-lived, with escalating trade actions likely to continue to bolster safe-haven buying.”