Did Jamie Dimon Just Hint That Gold Could Go to $10,000/oz?

Gold’s bull run continues, while the U.S. dollar’s countertrend rally may be sputtering out.

Key Takeaways

• Rate Cuts Look Confirmed As Equity Jitters Ease: All it took to turn the stock market from deep red to green was (i) Trade Representative Jamieson Greer telling CNBC that President Trump still intends on meeting with Xi Jinping (and Beijing urging the U.S. to “take steps towards cooperation”) and (ii) some dovish musings yesterday from Fed Chairman Powell. Futures are now priced 97% of the way for an October rate cut, and December now looks to be a lock as well.