RBC's Gero: $1,800 gold 'not far ahead'
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
Gold futures have regained the $1,700 to $1,750 range with $1,800 “not far ahead,” said George Gero, managing director with RBC Wealth Management. He pointed out that countries, including the U.S., continue to pass stimulus packages, while exchange-traded-fund gold inflows have now occurred 22 days in a row. “Gold prices are [an] economic and political barometer of our well being, and investors are doing what central banks do --buy gold to shore up currencies,” Gero said. As of 7:52 a.m. EDT, Comex June gold was $28.90 higher to $1,716.70 an ounce.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.