Gold prices hit $2.1K as 'perfect storm' brews: Strategist
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- เผยแพร่เมื่อ 4 มี.ค. 2024
- Prices of gold (GC=F) have soared, breaking the $2,100 mark as investors brace for potential rate cuts. Phillip Streible, Chief Market Strategist at Blue Line Futures, joins Yahoo Finance Live to share his perspective on why the precious metal could be an attractive investment.
Streible says, "there is a perfect storm brewing in the gold market," with the commodity climbing $150 "above its February lows". He explains that in the event of looming regional bank failures, the Federal Reserve may "pull forward" anticipated rate cuts originally slated for May or June, providing a tailwind for gold to rally further.
Streible highlights that the forthcoming jobs report on Friday will offer crucial insights into rate cut expectations and inflationary pressures. He suggests that a figure below 200K could "expedite the prospects of an interest rate cut," although he urges caution regarding "seasonal factors" that may influence job market data.
Furthermore, Streible underscores an "underinvestment" in the gold market, presenting a favorable opportunity for investors.
#youtube #Gold #stockmarket
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Gold is the only money you can trust.
Gold is not rising the dollar is dropping, and record inflation is catching up.
Digital gold won’t help you on a tangible world. If you don’t hold it then you don’t own it…
yikes! how much should we be holding? and where do we keep it?
Not a problem
Not a problem
You are wise! In 1980 I actually saw a few people that were going to cash in their profits and found out they had ZERO gold being stored for them. It will be much worse this time. For each oz being stored, there are probably 50 people that claim ownership. You will see. I am right on this one.
According to the Bank of International Settlement gold became a tier 1 asset on March 29th, 2019. The US doesn't like this but most of the world does.
The US doesn't care. If the "US" cared it would tax gold sales. Gold and silver sales are not taxed in the United States.
The main drivers of gold are fear from global debt, banking crisis, political instability AND ROTATION of money from the overbought tech sector and bursting of the AI hype bubble. Expectation of rate cuts IS NOT a big consideration right now. The guest doesn't know what he is talking about.
I'm no expert in finance but I was also struggling to see the link between gold prices and interest rates
@@_stokyo_ To help explain the logic of the guest, lower rates results in the USD getting devalued. As the initial comment stated, demand for gold is heading higher for the aforementioned reasons. So, if one of the world's safest assets (USD) gets devalued as rates come down, gold is the next best option.
@JohnStories thanks and why would the USD's value go down with lowered rates? Just trying to understand the full picture
Edit: I guess you mean the likelihood of mors debt will increase?
@@_stokyo_ Good question. An array of reasons, actually. The most prominent one would be the fact that holding the USD wouldn't generate you as much returns as rates go lower - think government bonds and savings accounts, for example.
Other reasons include capital outflows to other currencies - that one's more of a supply and demand fundamental. You've also got the debt issue as well.
ITS FOMO...PEOPLE WHO OWN TONS OF GOLD ARE MORE THAN HAPPY TO SELL AT THIS PRICE...
Central banks are going to push gold higher than 2500.
China will
So are we preparing for a crash of the dollar or stock market?
Has any company or bank ever been fined for manipulating the price of gold or silver?
I think JPM was but probably went right back to it.
no, because they don't
Yes JP Morgan was fined loads. But they don't care.
If a bank manipulated the price down the average gold or silver purchaser should see it as an opportunity and load up.
Yes. Tremendous fines!
Markets are all manipulated !
you will feel better if you wear a hat made of aluminum foil
could cut in march. Lenders are collaping.
Gold is a hedge against plummeting dollar.
it has always done that. so why is it going up just now?
@@DrSchor This is a routine fluctuation. The inflation adjusted all time high is $2700 / oz. We are still a ways below that. Globally a lot of people and banks are investing in gold, so we see the price go up a little.
I’ll like copper after the recession starts and I’ll buy mining stocks cheap, and nova royalty. Until then, it’s risky compared to silver and gold miners because they are dirt cheap still, easy 3x and potentially 10x. Timing is key with miners because the wait is long between big rallies, but they come, and they are here, and late, which means there needs to be lots of exploration, licensing, permitting and opening new mines for the next 10-15 years to bring production up to demand. EVs and solar panel demand alone have eaten up a third of present silver mine supply, and it’s growing fast. This will be fun.
Bro is serious on 200k+ internet money but only 2500 gold lol. We early
Digital gold smh 🤦.
Yahoo 😘
Yahoo
why does china need stimulus. They have -3.5% inflation. Isn't that stimulus.
They have massive unemployment. And hundreds of millions of people living in poverty in the western interior part of China.
Lazlow Prediction - Gold will be 50,000$ in 2030 and silver will be 500$ per ounce in 2033
I wish…
Inflation
Rate cuts, a democrat joke.
BITCOIN to jest zwykły ŚMIEĆ !!!!
True, I just can't understand who someone would play the "Greater Fool" game. It is garbage!