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Bulls versus Bears on Wall Street: Time to Buy Gold in 2019?

Annie Gilroy
Bulls versus Bears on Wall Street: Time to Buy Gold in 2019?

For a large part of the year, gold prices (GLD) have languished due to a strong US dollar (UUP), hawkish Fed rate hike outlook, and rising equity markets. For the last few months, though, some of these factors seem to be reversing their course. Equity markets, for one, have remained quite fragile and volatile (VIX) since October. As of December 24, the S&P 500 (SPY), the Dow Jones Industrial Average (DIA), and the NASDAQ Composite (QQQ) have lost 18.9%, 16.1%, and 21.6%, respectively, since hitting their highs in mid-September.