Bill Baruch, chief market strategist at iiTrader, however, doesn't believe that now is the time for investors to buy gold. Gold's shining winning streak shows no signs of letting up, and one portfolio manager sees this as the perfect chance for investors to get into the commodity. "We are quite optimistic and constructive on the yellow metal." He encourages investors to buy GLD, the ETF that tracks gold. GLD is up more than 7 percent year to date as gold continues its rally that began in late December.
As it stated in
LONDON: Gold steadied near three-month highs on Thursday as political risk in Europe and the United States drove demand for bullion as a safe haven. Higher political risk in Europe has prompted overseas investors to pile money into US treasuries, driving down yields and reducing the opportunity cost of holding non-yielding bullion. Spot silver fell by 0.1 percent to $17.77 an ounce, just off the $17.86 three-month high reached in the previous session. Khan said that gold could rise as high as $1,350 an ounce before too long, having seen jumps of $10 a day. "We see gold as relatively underpriced, given the rally in commodities and high level of political uncertainty," said Hamza Khan at ING.
* Record German trade surplus adds to political risk * SPDR Gold holdings rise for sixth straight session * Platinum touches three-month high (Updates prices) By Peter Hobson LONDON, Feb 9 Gold steadied near three-month highs on Thursday as political risk in Europe and the United States drove demand for bullion as a safe haven. Higher political risk in Europe has prompted overseas investors to pile money into U.S. treasuries, driving down yields and reducing the opportunity cost of holding non-yielding bullion. Spot silver fell by 0.1 percent to $17.77 an ounce, just off the $17.86 three-month high reached in the previous session. Khan said that gold could rise as high as $1,350 an ounce before too long, having seen jumps of $10 a day. "We see gold as relatively underpriced, given the rally in commodities and high level of political uncertainty," said Hamza Khan at ING.
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As it stated in
Political risk keeps gold near three-month highs – Business Recorder
LONDON: Gold steadied near three-month highs on Thursday as political risk in Europe and the United States drove demand for bullion as a safe haven. Higher political risk in Europe has prompted overseas investors to pile money into US treasuries, driving down yields and reducing the opportunity cost of holding non-yielding bullion. Spot silver fell by 0.1 percent to $17.77 an ounce, just off the $17.86 three-month high reached in the previous session. Khan said that gold could rise as high as $1,350 an ounce before too long, having seen jumps of $10 a day. "We see gold as relatively underpriced, given the rally in commodities and high level of political uncertainty," said Hamza Khan at ING.
* Record German trade surplus adds to political risk * SPDR Gold holdings rise for sixth straight session * Platinum touches three-month high (Updates prices) By Peter Hobson LONDON, Feb 9 Gold steadied near three-month highs on Thursday as political risk in Europe and the United States drove demand for bullion as a safe haven. Higher political risk in Europe has prompted overseas investors to pile money into U.S. treasuries, driving down yields and reducing the opportunity cost of holding non-yielding bullion. Spot silver fell by 0.1 percent to $17.77 an ounce, just off the $17.86 three-month high reached in the previous session. Khan said that gold could rise as high as $1,350 an ounce before too long, having seen jumps of $10 a day. "We see gold as relatively underpriced, given the rally in commodities and high level of political uncertainty," said Hamza Khan at ING.
read more visit us gold
collected by :Jack Luxor
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