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That’s what Morgan Stanley chief global currency strategist Hans Redeker told clients in a note published Thursday, citing in-house indicators showing U. domestic demand is set to fade in the coming months.

The greenback fell 1.3 percent Friday, capping its worst week since April, after the Commerce Department said U. second-quarter gross domestic product advanced at about half the rate economists It’s been a stellar six months for gold investors.

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The yellow metal has surged 28 percent year-to-date, its best first half of the year since 1974, and there are signs that the rally is just getting started.That’s the assessment of analysts from UBS and Credit Suisse, who see gold entering a new bull run.

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