Analysts at Morgan Stanley offer their outlook on Gold, noting that they have turned more neutral on the yellow metal.
Key Quotes:
“Turned ‘more neutral’ on gold, citing the Fed’s policy baked in.
Now bullish on silver on an expected recovery in industrial demand later in 2019.
Gold prices seen at USD 1290/oz in Q2 2019, 1300 in Q3 and 1350 in Q4.
Further reason cited:
The buying by central banks is supportive for gold.
They’ve bought 126 tons in the first quarter of 2019.
China, Turkey, Russia are adding to their reserves.”
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