Gold traders 'buy the dips'

UNITED STATES February 24 2017 1:54 PM

NEW YORK (Scrap Register): Gold is remaining bid even though the U.S. economy has performed well and markets expect the Federal Reserve to tighten interest rates this year, said TD Securities , these factors normally hurt gold.

However, in the current environment, Uncertainties surrounding President Trump's fiscal stimulus program, North Korean missile tests and the existential threat to the euro zone amid pending various European elections are all reasons persuading investors to hold their net-long positions at relatively elevated levels, TDS added. 

“In fact, analysts point out, Fed Chair Janet Yellen has even listed U.S. fiscal policies as a key unknown for central bankers. As far as we are concerned, the current gold market is ‘buy the dips’ in nature,” said analyst at TDS.