Gold Hits 5-1/2 Year Low, Set for Worst Week Since October
Published July 24, 2015
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Gold has been hurt this year by expectations that the Federal Reserve is on track to raise interest rates for the first time in nearly a decade, boosting the opportunity cost of holding non-yielding bullion while lifting the dollar.
“In the short term, investor sentiment is what actually moves prices,” Capital Economics analyst Simona Gambarini said. “It’s now likely that the Fed will hike rates this year, most likely in September … (and) investors are already showing that in their positioning. They’re becoming more bearish on gold.”
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Gold is on sale!
Do you think the FED is ever going to be able to raise rates until after then next Presidential election? If then! If a D wins, it’s more of the same deficit, debt, and welfare spending. If an R wins, then the economy might have a chance to to stage a real recovery. Only if one of the “crazies” — Rand Paul, Carly Florin, Scott Walker, or maybe Ted Cruz — wins.
One thing is for sure, the Gooferment can’t print any more gold.
And, unless you think the Chinese and Russians are crazy, explain their accumulation.
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