Make Kitco Your Homepage

Bumpy ride ahead as investors price in elections and raise cash: RBC Wealth Management

Kitco News

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

(Kitco News) Volatility will continue this week as traders focus on pricing in the election and raising cash, writes RBC Wealth Management managing director George Gero. “Traders are trying to price in upcoming elections so lowering bids and raise cash awaits a bumpy ride this week,” Gero says. “Gold still cannot be counted out as economic and political basics return next week.” Gero looks for a return to $1,900 an ounce in gold and $27 an ounce in solver in the near term and $2,000 in gold and $30 in silver in the long term. “Tonight’s debate and more pandemic headlines, more FED speakers this week, Brexit worries, Lagarde from ECB adding to concerns and uncertainty, upcoming U.S.-China worries, all weaken global employment.”

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.