Wall Street Can No Longer Ignore Gold
Gold’s bullish performance in the face of political, geopolitical, and economic confusion is exactly what we have been expecting and writing about.
Now, even though they would like to, Wall Street – the money center banks and brokerages – are finding gold hard to ignore.
Political, geopolitical, and economic confusion? Sure. You can’t miss it:
- The US government shutdown
- Divided government, including the Democrats’ takeover of the House
- The socialist juggernaut in American politics, personified by figures like Alexandria Ocasio-Cortez and Bill DeBlasio
- Mixed messages in US foreign policy (in or out of Syria, Afghanistan, Iraq, Yemen?)
- The decline of America’s and the dollar’s global economic dominance
- Trade wars
- Trillion-dollar deficits
- Unpayable national debt
- Stock market gyrations
- Shifting interest rate messages from the Fed
All of these, and other challenges too numerous to name (okay, I’ll name a couple more: the pension crisis and the looming student loan crisis) are forcing Wall Street to acknowledge gold as a safe haven and alternative to the dollar and the wobbling stock market.
Analysts Very Bullish on Gold
Goldman Sachs has “raised their price forecast for gold, predicting that over the next 12 months, the precious metal will climb to $1,425 an ounce – a level not seen in more than five years.”
A New York analyst with Standard Chartered, the British international bank, says “investors are not only closing bearish bets (on gold) but are also adding to their bullish positions.”
Cantor Fitzgerald analysts says, ““We expect the safe haven bid, and to a lesser extent, gold’s inflation hedge properties, to remain key drivers of the metal’s price in 2019, complemented by a resurgence of physical demand.’’
Now, with political, geopolitical, and economic confusion at every turn, is the time to speak with an RME Gold broker about prudent steps you can take to protect yourself and your family in the New Year.
Take a listen to our latest commercial, although it’s nothing new to readers who have already been listening for the past several months…