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Dow Jones NewsMay 1, 11:46 PM UTC
DJ Gold Consolidates; Fundamentals Solid Despite Recent Selloff -- Market Talk
2346 GMT - Gold consolidates in the early Asian session. Despite the recent selloff, gold's fundamentals remain solid, TD Securities' Bart Melek says in a research report. "It's likely too late to make tariff deals which would prevent an economic slowdown and higher inflation, implying the Fed may well cut rates in a de-facto stagflationary environment," the head of Commodity Strategy says. "At the same time, many relationships between the U.S. and key trading and strategic partners have been broken, suggesting a slow pivot away from USD and Treasurys will continue to happen, he says." This implies market participants should again tilt toward the precious metal, Melek adds. Spot gold is 0.1% lower at $3,238.05/oz. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 19:46 ET (23:46 GMT)
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