Gold: Ready to Shine Again?

In this first of a two-part note we highlight the key elements for investors to consider in their decision making process in building exposure in gold and gold-related investment products over the next three to six months. We highlight the consensus forecast on gold for the coming months. The discussions on gold are incomplete without touching on both interest rates and the USD, both may have passed their most aggressive uptrend phase and could turn from a headwind to a tailwind for gold.