Dennis Gartman explains what will save gold, which is down $75 in the last 2 weeks. Gold’s next move, with CNBC’s Jackie DeAngelis and the Futures Now Traders. Goldman Sachs predicts as much as 16 percent decline for the metal in 2014, but gold bugs such as Terry Sacka say “nay”.
Gold is under pressure in light of expectations that the Fed may start removing accommodations soon. On May 1, 2013 the Fed announced they were prepared to “increase or reduce the pace of its purchases to maintain appropriate policy accommodation.” Hinting at the possibility of an increase in asset purchased resulted in
“Every central bank in the world has the printing presses going full-blast, so it’s just a matter of time, we believe, until inflationary pressures start to push gold up,” Point View Wealth exec David Dietze tells CNBC in a March 12 interview. And while stocks have “been up
Guenter Schiffmann/Bloomberg
In a vivid example of just how nervous investors have gotten over gold, one of the biggest ETFs to track the precious metal — SPDR Gold Shares GLD +0.01% – saw $5.4 billion hit the exit door year-to-date, according to ETF Trends. More about record low flows in February for gold ETPs.
And it’s not just then, Bloomberg News noted Thursday that John Paulson saw an 18% decline in his $900 million Gold Fund last month, and a 26% knock so far this year.
However, one strategist took to the airwaves on Thursday to caution that investors may be playing with
After melting down for three weeks straight, gold and silver prices are oversold and finding support at nine-month lows thanks to short covering and bargain hunting — even as the U.S. dollar continues to strengthen. This suggests precious metals are forming a significant bottom, market technicians say. Meanwhile, traders await the February employment report due…
The price of gold may have come under increasing pressure in past weeks with concerns that the Federal Reserve’s loose monetary policy may be coming to an end, but analysts have told CNBC that the precious metal can still break through the $2,000 mark in the long term.
“We’re in a very good situation. QE (quantitative easing) is going to go for six to twelve months.They are talking about $500 billion to $1 trillion more in the system,” Eugen Weinberg, head of commodity research at Commerzbank told CNBC Monday. Record low interest rates by central banks around the globe have resulted in negative real interest rates — when allowing for inflation. Traditionally gold has an
David Mcalvany, CEO, McAlvany Financial Group explains why gold will still bring in returns next year as demand from both investors and central banks will continue to hold up.
Gold should hit “$1,800 probably by the late summer and easily $2,000 by the end of the year,” Michael Purves of Weeden & Co. tells CNBC on May 11. “The long-term fundamentals are just as intact today as they were a
Jonathan Barratt, Founder, Barratt’s Bulleti says gold has reached
Clem Chambers, CEO, ADVFN is long gold as he believes it is a good hedge against inflation.
“I am long gold effectively,” ADVFN chief executive Clem Chambers tells CNBC in a May 13 interview. “No, it isn’t over $2,000 yet, but I think people that drove it to $1,600 are expecting
