It Might Be Time To Be ‘Underweight’ Gold - Stifel

Gold sees volatility as markets digest the slew of economic data released Wednesday morning and as Fed Chair Janet Yellen testifies before the House Financial Services Committee. And according to Stifel’s market strategist Kevin Caron, it might be time to be underweight the metal. ‘The expectation would be for a trend line higher in the gold price but a more modest pace than we’ve seen in recent years,’ he tells Kitco News. Caron notes that the current environment — rising U.S. dollar and equities, economic growth in the U.S. and rising interest rates — are all reasons why gold is not the most attractive asset right now. April Comex gold futures last traded at $1,227.40 an ounce, up 0.16% on the day. (show less)

Gold sees volatility as markets digest the slew of economic data released Wednesday morning and as Fed Chair Janet Yellen testifies before the House Financial Services Committee. And according to Stifel’s market strategist Kevin Caron, it might be time to be underweight the metal. ‘The expectation would be for a trend line higher in the gold price but a more modest pace than we’ve seen in recent years,’ he tells Kitco News. Caron notes that the current environment — ... (read more)

 
 
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Kitco News
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

 

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