Gold Price Outlook: Mojo back as economic woes weigh on China, US and Eurozone

Gold’s safe-haven status is poised to receive a boost when markets reopen after weak economic data suggested several major economies, including the US, China and Eurozone, are on shaky ground. This has increased the outlook for the precious metal given investor attention is increasingly shifting from business activities and onto gold. As a result, gold and silver prices have recovered from lower levels and precious metals should remain bullish this week. Moreover, a positive outcome from the debt ceiling and the expectation that interest rates are set to pause should lend further support to the precious metals complex.