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I Sleep Better With Gold Holdings Than Equities: Merk
Axel Merk sits with Kitco News during the Metals & Minerals Conference to talk about his gold holdings and why he is now "spooked" by equities. "The reason I am spooked is because of complacency in the market. When volatility goes down and prices go up, you have money chasing equities that shouldn't be there," Merk says. "At the same time, you have people who don't like gold right now and I love that." Merk says gold is not as expensive as it once was and he sleeps a lot more comfortably with his gold holdings than his equity ones. "Now gold is much more volatile and that means there's much more complacency in the S&P than there is in gold," Merk says. "That's a good thing just on a technical basis," he adds. "Gold ultimately will do well when we get economic growth because then it will become apparent that we cannot afford positive real rates," Merk says. However, he expects a long time to pass before he sees gold coming back. Tune in now to hear where Merk would avoid putting his money and where he expects gold prices to be by next year. Kitco News, November 27, 2013 (show less)
Axel Merk sits with Kitco News during the Metals & Minerals Conference to talk about his gold holdings and why he is now "spooked" by equities. "The reason I am spooked is because of complacency in the market. When volatility goes down and prices go up, you have money chasing equities that shouldn't be there," Merk says. "At the same time, you have people who don't like gold right now and I love that." Merk says gold is not as expensive as it once was and he ... (read more)
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