A “triple whammy” of a “horrible” GDP report, a renewed debt-ceiling crisis, and a potential U.S. credit downgrade could send gold to $1,600 by August and ultimately back above $1,900, Women’s Investment Network CEO Natalie Pace tells Fox Business. “That’s going to make investors scared of Wall Street and they’ll start falling back in love with gold.”
There’s a great wealth transfer taking place right now. Are you on the
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…
