Current monetary policy is conducive to a rise in gold prices, either this year or next, said Will Rhind, CEO of GraniteShares.
“The rate hike calendar for this year wasn’t going to be the same, and we obviously had the [Fed] meeting in January where it was confirmed that the Fed was going to put their policy on hold, and I think more than that, they actually kind of changed policy toward interest rates and try to engineer an overshoot in inflation rather than tightening into weakness in the global economy,” Rhind told Kitco News.