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

Section:

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. ...

... Dispatch continues below ...


ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata



"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." ...

... For the remainder of the report:

https://www.foxbusiness.com/markets/gold-price-soaring-currency-manipula...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/noic-promo/powellgata/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16