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Today’s G&S Central news is golden—filled with gold nuggets from some of the best blogs in the precious metals industry. Gold is hot right now with its record setting price reached on Monday. So, we panned through the headlines and found some sparkling articles for you that offer various perspectives on the yellow metal’s price and future performance.
Let’s dig in…
Price
Here’s Why Gold Will Soar to $3,000: Revealed in BOA Client Call Transcript
Gold has finally surpassed the $2,000 per ounce mark—a new all time high. This historic price provides an opportune time to reexamine a conference call held by Bank of America’s commodities team (possibly the most bullish bunch out there—they expect gold to hit $3K oz in 18 months.) In this call, they discuss the outlook for gold and other precious metals in the context of global asset allocation, interest rates, and technicals. “"[The Fed] is not going to talk about upside risk to inflation in the next six months. I'm not even sure that they would be talking about that in a meaningful way in the next six years" - Mark Cabana, Head of US Rates Strategy. Where will gold go next?
READ THE FULL TRANSCRIPT OF BOFA’S CALL “WHERE TO NEXTG FOR GOLD” JULY 30, 2020 ([link removed])
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Price
Citibank Analysts Project Gold Price Will Keep Going Up in Short Term
Some analysts at Citigroup enlisted some key primary drivers behind the gold-price rally while projecting higher targets in the short-term. Citi predicts a short term target at ~ $2,XXX/oz.
SEE THEIR PREDICTION ([link removed])
Price
Contrarian View: Why Gold’s Upward Trend Will Probably Not Last Long
A writer on the FX Empire blog offered a different take on gold—one that is more bearish than bullish. Financial analyst Adesina Olumide, educated at Yale and Duke University, has more than 15 years of experience working in investment trading and analyzing financial markets. He is a member of the Chartered Financial Analyst Society, and he makes a case that the gold rush won’t continue much longer.
SEE WHY THE GOLD SURGE COULD PETER OUT SOON ([link removed])
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Stock Market
With Gold Hitting New Highs—Here Are Some Stocks to Consider Buying Now
As gold sells like hotcakes, now is a good time to consider buying some gold-mining stocks. In this article, the writer discusses the best way to pick gold-mining stocks, and lists 17 stocks to consider. He starts with advising to “go with successful fund managers.” There are many small gold-mining companies, which makes it tough for them to attract quality talent at the top of their leadership pyramid. The Philadelphia Gold and Silver Index (the top 30 stocks) has about the same market value as J.P. Morgan. That’s why sizing up the management is important. “If you can get a manager who is reasonably solid, you are half the way there,” says Bryan. What are the qualities to look for?
DISCOVER HOW TO FIND WINNING GOLD-MINING STOCKS
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Commentary
Gold Attains Escape Velocity
Paul Wong, CFA, Market Strategist of 30 years who specialized in investment analysis for natural resources investments, says gold has moved away from other asset classes, into its own asset class with both long duration and short duration qualities, and he see’s the stage being set for the yellow metal to continue to climb higher. After covering the details on why gold has pulled away from other precious metals, he writes about what he see’s happening with the U.S. dollar, silver, and then closes with his own outlook on the economic recovery.
READ ENTIRE OUTLOOK ([link removed])
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Commentary
Gold is the Best Investment in the World—Here’s Why
Gold has always been the world’s favorite safe haven for 5,000 years—a pretty impressive track record through hard times, war, devaluations, and other circumstances—gold always comes out #1. Gold is also global money that’s accepted throughout the world. Plus, it’s durable and beautiful.
READ THE HISTORY WHY GOLD HAS BEEN DESIRED FOR CENTURIES AND WHAT YOU SHOULD TO ABOUT IT TODAY ([link removed])
Thanks,
Gold Silver Central
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