After a strong start to the year, rising volatility sweeping through financial markets appears to be weighing on precious metals, and one international bank sees lower gold and silver prices for the rest of the year.
In a report published Wednesday, Georgette Boele, precious-metal strategist at ABN AMRO, questioned gold’s traditional role as a safe-haven asset. She said that she expects gold prices to struggle for the rest of 2020 as weak global growth weighs on jewelry demand and investors jump into the U.S. dollar as a safe haven.
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