We know we had promised no more Star Wars references, but with gold off to a solid start this 2016 – how could we resist? As of newsletter time, gold is in-line for a 3% weekly rise – this would be the precious metal’s best weekly gain since August. The turn of events was due to turmoil in China and the yuan devaluation.
Murenbeeld said that from an economic point of view, there was no requirement for the central bank to raise rates. “Now the question is whether they will hike significantly, and our view is they will not, and this will bode well for gold,” he said. Watch the interview to find out his 2016 forecast for the metal.
As for next week, today’s Kitco News Wall Street vs. Main Street Weekly Gold Survey might shed some light. It found that a clear majority of retail investors and analysts expect to see higher gold prices in the near-term. Of those, 304 participants, or 66%, said they are bullish on prices next week.
In other news, billionaire financier, George Soros made headlines on Thursday, after suggesting that an impeding financial crisis is on the horizon and that the market could see a 2008 repeat.
For the full report, and many more exciting and relevant news stories,
Gold: The Force Awakens
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