Gold: Favored as a hedge against trade war re-escalating – Citibank

Analysts at Citibank, in its latest client note, offer their outlook on the commodities, including gold, in the wake of the US-China trade truce.

Key Quotes:

“Have a 'base case' for a sustainable US-China trade cease fire in 2020.

Based on 2020 being an election year in the US.

Bullish on copper, nickel, coking coal and palladium.

Gold "deserves its place in the portfolio as a hedge against the trade war re-escalating".

Phase-One deal bullish for global growth. 

We expect a modest grind higher in risk sentiment through at least April/May 2020.”