ABN Amro – Strong conviction in higher precious metals prices
“Recently precious metal prices have weakened again. Prices to set a bottom above previous bottoms and to recover again. We think that the Chinese yuan has bottomed and the US dollar and 10y US Treasury yield have peaked. Speculators seem to have lost faith in the upside potential for gold, silver and platinum… but not us . . .We expect precious metal prices (mainly gold, silver and platinum) to recover in the coming months and to rally in 2019.”
USAGOLD note: ABN-AMRO is the third largest bank in Holland. It projects a gold price of $1400 by the end of 2019.