Gold and silver to continue to appreciate - Julius Baer
futures, the Swiss group Julius Baer has decided to change its outlook on commodities to constructive. The group now believes that both metals have the potential for further increases, as stated in a note sent to clients and the market on Friday morning.
Weaker-than-expected U.S. economic data have revived hopes for interest rate cuts by the Federal Reserve , boosting gold and silver prices. This could "be the missing incentive for safe-haven seekers in the Western world to return to the markets," he added.Central banks have been buying gold more for geopolitical reasons than economic ones, according to Julius Baer. In China, for example, there is a desire to reduce dependence on the U.S.
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