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The Federal Reserve has actually pumped trillions of bucks to stabilize the U.S. economic situation and financial markets ravaged by the COVID-19 pandemic. Keeping that trend expected to proceed for the foreseeable future, one market strategist claimed the very best means not to eliminate the reserve bank is by buying rare-earth elements.
In an interview with Kitco News Mike McGlone, senior asset strategist at Bloomberg Knowledge, claimed the gold market is looking a little extended. Costs have pressed to a document high as well as within striking range of $2,000. He included that essentially, gold is nowhere near miscalculated levels as the UNITED STATE reserve bank continues to pour cash right into monetary markets.
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An impending equity bear market will ultimately push gold price to $4,500 – Bloomberg Intelligence
The Federal Reserve has pumped trillions of dollars to stabilize the U.S. economy and financial markets devastated by the COVID-19 pandemic. With that trend expected to continue for the foreseeable future, one market strategist said the best way not to fight the central bank is by investing in precious metals.
In an interview with Kitco News Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said the gold market is looking a little stretched. Prices have pushed to a record high and within striking distance of $2,000. He added that fundamentally, gold is nowhere near overvalued levels as the U.S. central bank continues to pour money into financial markets.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
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