Gold Price Could Jump To $1,600 On Military Intervention in Hong Kong

Gold prices could surge more than $100 if there is a Chinese military intervention into Hong Kong, according to analysts at SP Angel. “Gold prices are likely to react dramatically to events as they unfold and we estimate that gold could rise >$100/oz relatively quickly on mass arrests or fatalities,” they write. At the time of writing, December Comex gold futures are trading at $1,509.40, down 0.42% on the day. Tensions remain high as protesters are still out on the streets of Hong Kong and China is warning of “severe consequences if they continue.” China has gathered its military forces just outside of Hong Kong. “To be fair China is giving ample warning with videos of the military practicing riot-control procedures on the border … [But, it] risks another Tiananmen Square if it sends military forces into HK and any resulting fatalities will have profound implications for relations with China,” SP Angel states.

Source: Kitco.com

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