Gold’s move up to $1,323 could mean that a rally towards $1,360 is coming “sooner-than-expected,” said TD Securities, citing a possible rate cut by the Federal Reserve as a trigger for the yellow metal.
“Given that the market is increasingly pricing in a U.S. rate cut this year, the US dollar is on a weak footing and considering that equities are generally more worried about growth, gold could well move into a higher trading range sooner than we expect.”
W Resources PLC (LON:WRES) is building a European mining company focussed on delivering long term production of tungsten, a key strategic metal with strong market fundamentals.