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  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/rPd6B5KzuI
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  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.30% 🇨🇭CHF: -0.41% 🇬🇧GBP: -0.62% 🇨🇦CAD: -1.12% 🇳🇿NZD: -1.87% 🇦🇺AUD: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdHY0q1ocW
  • #Gold Price Forecast: Gold Breakdown Accelerates – $XAUUSD Bulls Done? - https://t.co/uATlmZg8g6 https://t.co/vIbhg5HOko
Top Trade Idea 2019: Long XAU/USD – Gold to Glisten in 2019

Top Trade Idea 2019: Long XAU/USD – Gold to Glisten in 2019

Rich Dvorak, Analyst

A safe haven asset that lost its luster in 2018 looks set to gain back its glisten. After declining 11 percent over the first 8 months of the year, Gold has started to stage a comeback with the commodity back up nearly 5 percent to 1242.30 as of December 14. Previously overlooked as a yield-less investment in a rising interest rate environment, investors may turn back to Gold if global risks materialize. Aside from investors fleeing international uncertainties surrounding political instability and slowing economic growth, a depreciating Dollar and inflation overshooting expectations could bolster bids for the precious metal next year.

Top Trade Idea 2019: Long XAU/USD – Gold to Glisten in 2019

With the current phase of the bull market cycle drawing parallels to the 9th inning of a baseball game, a faltering economy could cause the Federal Reserve to pump the breaks on its path to normalization. This looks to occur when other global central banks are geared up to begin their own tightening agendas which may drag down America’s currency making XAU/USD more valuable. Rising wages due to an increasingly tight labor market combining with higher costs from tariffs and a possible infrastructure spending bill bodes well for inflation overheating – thus setting up Gold as a top trading opportunity for 2019.

To see all the of the analysts Top Trade Ideas for 2019 and Top Lessons from 2018, download the guides on the DailyFX Trading Guides Page.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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