$1,400/oz Gold Is Just The Start Of Bull Market.

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$1400 Gold Just Start of Bull Market – VanEck

Investment firm VanEck issued a report stating that $1400 gold will be just the start of a new bull market.

“Although gold prices are down from last week’s two-year high, one investment firm sees $1,400 an ounce as just the start as the market remains in a new bull uptrend. In a report released Tuesday, Joe Foster, gold strategist at VanEck, said that the firm is expecting gold prices to reach $1,400 an ounce in the second half of the year, adding ‘and we do not believe it will end there…’

“What is the driving the next leg of the renewed secular bull market is the fact that investors are being more proactive, he said… ‘Many are seeing the looming potential for another financial crisis and making a strategic allocation to bullion as a hedge against systemic risk,’ he said.

Foster sees several factors in the global economy that will continue to support gold prices in the long term, including continued loosed monetary policy and low bond yields. Quoting the latest report from ratings agency Fitch, he noted that $11 trillion in sovereign debt is offering negative yields…

Foster also said that weak global growth and volatile currency markets will make gold an attractive investment… Turning to the U.S., Foster said that the 2016 presidential election also promises to be positive for the yellow metal, no matter what side wins the race….”

(“Gold Price Of $1,400 Is Just The Start – VanEck,” Kitco News, 7/12/16.)