Gold - Still Long - Upward Potential

Gold has regained it's upward momentum over the past few trading sessions and we see significant upward potential in the precious metal mainly as a hedge to renewed geopolitical tensions or fears surrounding global economic growth. Our view is reinforced due to the continued Dovishness of central banks with the Bank of England last week indicating that rates could be cut this year which could lead to Gold consolidating above $1600 and potentially even challenging all time highs during the course of 2020.