U.S. Economy Not As Strong As Reported; Gold To Rise
The U.S. economy appeared to be healthier this year than it actually is, thanks to a few isolated economic events, said Samuel Pelaez, CIO of Galileo Global Equity Advisors.
“The last GDP we had was Q2 and that was phenomenal, but we had the tailwind of the lowering of the corporate tax rates. That was a one-time event, I mean, it’s probably going to last a few quarters but we’re not going to see that next year. So I think there have been one-off situations that have helped the U.S. economy look more healthy this year than it actually is,” Pelaez told Kitco News on the sidelines of the 2018 Precious Metals Summit in Beaver Creek.
On gold, Pelaez added that even at current interest rate levels, real rates are still negative, and that should provide a boost for gold. (show less)
The U.S. economy appeared to be healthier this year than it actually is, thanks to a few isolated economic events, said Samuel Pelaez, CIO of Galileo Global Equity Advisors.
“The last GDP we had was Q2 and that was phenomenal, but we had the tailwind of the lowering of the corporate tax rates. That was a one-time event, I mean, it’s probably going to last a few quarters but we’re not going to see that next year. So I think there have been one-off situations ... (read more)
Precious Metals Summit 2018
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