Even though despite disappointing economic growth in the U.S., increasing worries about Brexit and the effects of recent public policies gold prices have fallen, insiders are seeing positive signs for precious metals in 2019 and, therefore, for gold. At the PDAC Convention in Toronto last week, the importance of diversifying a portfolio by including precious metals was, among other things, widely stressed.

President of the European Central Bank (ECB), Mario Draghi, stunned financial markets last week by announcing a U-turn in the Eurozone’s monetary policy. Instead of a long-awaited rate hike, Mario Draghi announced on the contrary a new monetary stimulus package. The Italian, among other things, pulled an old trick out of the ECB sleeve (the so-called TLTROs), mere months after the European version of quantitative easing was brought to a complete stop.

But it should be very clear to close

Last week, the gold price closed near $1,325 per troy ounce, which is remarkable, since gold prices broke convincingly through the $1300-barrier after New Year’s Eve. Gold prices rallied even further by another three percent, topping $1340/oz, but slightly retreated last week. The motive? Everything appears to be awesome again on stock markets and Trump – insofar the rumors go – is nearing a tough fought trade agreement with the Chinese to resolve an impending all-out trade war. But this sudden wave of good news is quite remarkable after an important novelty earlier last week.