MS Calls The Top for Now
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Housekeeping: Good Morning.
“The reset is a process, not an event.”
Today
* Discussion 1: MS Calls The Top for Now
* Discussion 2: China Gold Positioning..Early Signs of stability
Analysis:
Morgan Stanley Argues for Trading Range
After touching $3500/oz intra-day in late April (a $500/oz rise in about 9 business days), MS Notes gold has settled into a range, which they expect to hold for now.
Key Takeaways: i) Uncertainty on tariffs and global growth supported gold prices via investment demand, with very…
The skinny
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