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Perfect Storm for Higher Gold Prices.


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Perfect Storm for Higher Gold Prices – Forbes

Forbes reported that the current financial and political climates are positive for gold’s bull run.

“Gold shone brightly for a few days this week before running out of steam, but if anyone thinks gold has done its best for 2016 they’re not looking at what’s driving [gold]. A heady mix of financial, political and economic forces are behind the latest gold revival and none of them are short-term events…

“Credit for this week’s rise in the gold price to a two year high of $1314.87 an ounce was shared by confirmation that U.S. interest rates will be lower for longer and that British voters might agree with a proposition that their country should quit the European Union… And then there’s the biggest uncertainty of all, the gorilla in the room … what will the U.S. economy look like in the first year of President Trump should he be elected in November.

Gold loves situation like this. It is the ultimate fall-back investment for a time when everything else has failed or when the yield on conventional investments makes zero-interest bullion look good…

“The importance of Brexit to gold cannot be over-stated because while it might only involve one reluctant member of the E.U. opting out, the potential for a domino effect could be catastrophic with other Euro-skeptic countries joining Britain at the exit.”

(“Gold Can Only Go Up As A Perfect Storm Of Brexit And Trump Presidency Loom Large,” Forbes, 6/17/16.)

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