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Gold to hit record in 18 months as bond yields crash, Swiss Asia Capital's Kiener says
By Huileng Tan
CNBC, New York
Monday, July 4, 2016
Gold prices may hit all-time highs in the next 18 months amid low to negative global bond yields, said a fund manager on Monday, joining a chorus of bullish calls on the safe haven commodity.
Despite being a non-interest bearing asset with holding costs, gold was attractive in the current climate where there was little trust in the establishment and its policies as demonstrated by the June 23 referendum in the U.K. when voters chose to leave the European Union, said Swiss Asia Capital's Singapore managing director and chief investment officer, Juerg Kiener.
The continued cratering of bond yields has also blunted the advantage fixed income instruments held over their shiny counterpart.
"This fall-off in trust is resulting in people looking at different ways to invest, particularly in an environment when the government controls the whole fixed-income market, which is negative. At least (in gold), you don't have negative yields, there is no new supply ... and falling production," he told CNBC's "Squawk Box." ...
... For the remainder of the report and a video excerpt:
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