# Gold Achieves Liftoff as Prices Rocket Toward $1,400 an Ounce - Bloomberg

> Gold has broken a key resistance level and is attracting investment into exchange-traded funds as the dollar weakens. The Fed appears set to cut rates, and China is buying to stock reserves. The article is subscriber-only and this excerpt covers the bull case.

- Date: 2019-06-20 · published 2019-06-20T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/58515-gold-achieves-liftoff-as-prices-rocket-toward-1-400-an-ounce-bloomberg
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A gold rally driven by a weaker dollar and Chinese reserve buying reflects broader macro and safe-haven demand rather than a direct change in feed grain supply.

## Read by commodity

- DXY: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-06-20/gold-jumps-to-more-than-5-year-high-as-fed-signals-ready-to-cut-jx3zb66k

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.