Gold prices can continue to climb even after they hit a multi-year high last week, a global investment strategist said Monday.
In fact, prices are set to “reach $2,000 by the end of the year,” predicted David Roche, president and global strategist at London-based Independent Strategy.
Gold prices have been on an upward trend amid recent expectations of a Federal Reserve interest rate cut and heightened geopolitical concerns — conditions that might weigh on the stock market, according to Roche.
“I actually believe financial markets are now poised to crumble like a sand pile,” he told CNBC’s “Squawk Box.”
Despite gold price breaking a major multi-year major resistance level at $1400, $2000 by the end of the year is a bit aggressive.
And with the likelihood of the Powell lowering rates following the strong jobs report last Friday, declines in the US dollar should stabilize, which will put a ceiling on gold prices at least short term. In additional, in order for David to be right, price would have to breach the monthly supply zones at $1600 and I don’t see that in the cards for gold prices this year. Nevertheless, if you don’t have gold in your portfolio, you should consider adding some to your portfolio.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
If we are indeed entering a major bull market for the metal then savvy investors should consider buying smaller cap gold mining stocks rather than either the metal itself or the larger miners.The easiest way to do that via the VanEck Vectors Junior Gold Miners exchange-traded fund (GDXJ – Get Report), which tracks a basket of smaller, so-called junior gold mining firms.In general, the mining stocks do better than gold when the price of the metal rallies.But the smaller mining firms should outperform the larger ones, as long as the bullion price remains in an uptrend, says Don Coxe, chairman
Gold has broken up. For now the precious metal is leading the charge in futures. Usually this has not been the case in the past. The leader was always the more riskier asset of silver, or the gold miners. But, every time is different and usually will only rhyme. Gold and crypto are higher into the weekend and if this breakout is TRUE then we are in for a whirlwind of currency fluctuations.
The dollar is about to get smoked and the metals and crypto breakouts should explode. Sorry gold bugs, you will gain but the crypto wizards will gain
Gold prices jumped 1% on Friday to their highest levels since April 2018 as a sharp slowdown in U.S. jobs growth sent the dollar lower on growing expectations that the Federal Reserve would cut interest rates this year.The U.S. Labour Department reported on Friday that job growth slowed sharply in May and wages rose less than expected.”The U.S. jobs number was weaker than expected and that rallied the gold market. That gives the bulls more technical momentum,” said Jim Wyckoff, senior analyst at Kitco.Chances “have significantly increased that the U.S. Federal Reserve is going to lower interest rates sooner rather
The dollar’s rally may be approaching an end as pressure mounts on U.S. President Donald Trump to strike a trade deal with China, according to Brandywine Global Investment Management LLC.The money manager, which oversees $72 billion, is banking on this view to short the greenback and buy some of the biggest casualties of the trade war, including the Australian dollar. The rationale? Trump will be compelled to make peace with Beijing to protect the interests of American consumers.But in Brandywine Global’s longer-term view, Trump’s show of hostility may be part of a strategy to drum up support among conservative voters
Intermarket Relative Strength Analysis Report For The Week Starting 5/12/19
which talked about the major assets classes in the world, relative to the US dollar using just moving averages. Why the US dollar, because it’s still the most powerful currency in the world and over half of all foreign currency reserves in the world are in US dollars. The results were the following:
implying that Gold was showing strength relative to the US dollar going into this week.
Gold futures rose on Monday as investors increased bets the economy would weaken enough to cause the U.S. Federal Reserve to
We are approaching the decision point for the US dollar. I am here to convince you that “We All Know How This Ends”…
The chart above shows the global reserve currencies dating back for centuries. You can see the PATTERN. ALL of them last between 80-110 years. This is a pattern, a cycle, a powerful market force that happens in this world that VERY LIKELY WILL repeat itself.
With the dollar we are currently sitting at 98 Years. This statistical pattern suggests that the end of the dollar is likely within the next decade. This is very important and truly displays
Hopefully this becomes a significant pattern of posts that will help everyone on fintwit, TIMM, and steem in the future. These will be known as “Gartman Alerts”
Here is the backstory…I have been following fintwit twitter for multiple years now and I honestly believe this correlation has stayed in tack for over 3 years. I beleive it work greater than 90% of the time and there are many that can vouch for this. The talking heads on TV are put on TV just to talk, they likely know less than many that just type in front of a keyboard and tweet
Following up to my $GLD post earlier today I want to touch on silver. Silver is a riskier asset which usually leads Gold (up and down) and outperform gold (up and down). Lately silver is playing catch up and not necessarily leading, however it is sitting at a very precarious spot.
Silver broke down below the lows of 2017 unlike gold. Silver then rebounded back into the wedge what I believe is shaping up to be a “failed breakdown”. These are very powerful signals.
If silver can get above 17.25 i believe it is going to propel all commodities higher and into
After almost a decade of waiting, has Gold finally made the turn? Gold has been in a bear market since topping before 2012 and has done noting but CHOPPED everyone up since 2013. As you can see the price has made it back to 2013 levels here over 1300. So where does it go from here?
Gold has made continuous higher lows since the bottom in late 2015. Following this there have been multiple substantial sells that price has absorbed such as Brexit, the Trump Election, and the volatility stretch and spike that occurred last year. Gold was stretch multiple time