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Relax, Gold Only Has Another $80 Downside: Trend Forecaster
Gold has fallen nearly 20% since its 2016 peak and although markets seem to be pricing in further downside, one longtime trend forecaster does see an end in sight. ‘We’re saying gold has another $80 down – that’s not a lot,” Gerald Celente, publisher of The Trends Journal, told Kitco News. However, despite the positive outlook, Celente says he wouldn’t expect to see similar strength in the gold market in 2017 as seen early this year. At current levels, he thinks gold is at a great entry point ‘for those that want to look long term because the global economy is very different than the American economy.’ Celente is positive on the U.S. economy, especially as the country gears up to welcome a new, business-oriented President. However, a stronger U.S. economy translates into weaker emerging market economies, which would bode well for safe-haven gold, he explains. ‘I’m optimistic for gold as a safe-haven asset when you look at weaker currencies… the world is bigger than America.’ (show less)
Gold has fallen nearly 20% since its 2016 peak and although markets seem to be pricing in further downside, one longtime trend forecaster does see an end in sight. ‘We’re saying gold has another $80 down – that’s not a lot,” Gerald Celente, publisher of The Trends Journal, told Kitco News. However, despite the positive outlook, Celente says he wouldn’t expect to see similar strength in the gold market in 2017 as seen early this year. At current levels, he thinks ... (read more)
Gold & Silver Outlook 2017
Every December, Kitco News launches its Outlook series, giving viewers a unique perspective as to how experts think markets will move in the coming year. Will 2017 be the Year of the Raging Bull? Outlook 2017 will aim to answer that question by covering topics ranging from the global economy, the U.S. dollar and, of course, gold and silver. Don’t miss our coverage, which will include opinions of some of the most well-known names in the industry. And, look out for our most popular features like our coveted Invest Like The Experts series as well as our newest feature: the Most Fascinating People of 2016. Enjoy and happy holidays!Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
