Gold bulls delight in Jackson Hole as Powell juices price rally

From Mining.com

The market can expect large ETF flows, as well as ongoing speculator demand, when the Fed actually makes its first rate cut, according to UBS Group AG, which sees prices at $2,600 for the last quarter of this year. Increasing geopolitical risks should also lift demand for portfolio hedges, said Wayne Gordon, commodities strategist at UBS Global Wealth Management.

“It’s really notable that people are actually starting to move to that physical gold ETF side now,” said Ryan McIntyre, managing partner at Sprott Inc., a Toronto-based precious metals and critical minerals asset manager with $31.1 billion in assets under management. “Buying through the ETFs is going to be a big, big part of gold’s story.”