Gold Won’t Rally Unless This Happens (Video)
Gold Won’t Rally Unless This Happens Video – KitCo News
Unless there is a much more negative economic view from investors’ consensus, then gold is unlikely to break out of its current trading range, said Jeff Christian, managing partner at CPM Group.
“It’s going to take higher interest rates to move gold higher,” Christian told Kitco News on the sidelines of the IPMI Precious Metals Mobility Symposium.
Christian noted that a lot of times rising interest rates are positively correlated to gold, since higher rates means bad news for the stock markets, housing markets, and overall economic conditions, all things that are conducive to an uptick in safe haven assets like gold.