Gold prices testing resistance at $3,900 as producers prices continue to rise

Impact · against what's priced in

The PPI data provides a modest headwind for BMO due to fading solar demand for silver and potential interest rate persistence, while STAN remains bullish on gold's trajectory despite immediate resistance at $3,900.

STAN+0.60

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In context

The company projects a significant gold rally to $4,650 by year-end, which provides a bullish outlook despite spot gold currently testing resistance at $3,900.

Read from the article alone

• ppi▲167%
• inflation▲22%
• BMO
• STAN
• commodities
• gold
• precious metals
• producer prices