Gold is soaring because it's a 'very good hedge against currency manipulation'


By Jonathan Garber
Fox Business, New York
Monday, August 26, 2019

Gold has soared in recent weeks, and it showing no signs of letting up any time soon.

The precious metal was trading near $1,420 an ounce on Aug. 1 but had surged by more than 8% to nearly $1,540 by Monday as the U.S. and China swapped blows in a trade war that seems to heat up, cool down, and heat up again each day.

"This escalation increases the risk of a deeper, more protracted slowdown in global growth and greater central bank easing, which would push down global bond yields and raise market volatility," analysts at UBS’ Chief Investment Office wrote in a note to clients sent out Sunday. ...

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"I think gold is a very good hedge against currency manipulation," Jeff Sica, founder, president, and chief investment officer of Circle Squared Alternative Investments said today on "Varney & Co" airing on Fox Business. "The more the governments mess up, the more gold becomes attractive to me. I do not trust governments and the way they handle currency." ...

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