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Rare-earth elements investors should not be paying much interest to the short-term rate action in silver and gold. Rather, Andrew Hecht, creator of the regular Hecht Product Report, stated that unmatched financial as well as monetary stimulation will eventually drive gold costs to tape-record highs in the long-lasting.
In a meeting with Kitco News, Hecht said that he continues to see similarities in between the cost activity in gold during the 2008 financial crisis and also present market problems as the international economy has been devastated by the COVID-19 pandemic.
" In 2008 the U.S. Federal Reserve and all the reserve banks around the world placed great deals of stimulation right into the system, and also it resulted in a general rally in commodities. Silver and gold especially succeeded," he claimed. "I'm not mosting likely to ever battle the reserve banks of the globe."
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Don’t fight central banks, own gold and silver – Andrew Hecht
Precious metals investors should not be paying much attention to the short-term price action in gold and silver. Instead, Andrew Hecht, founder of the weekly Hecht Commodity Report, said that unprecedented monetary and fiscal stimulus will ultimately drive gold prices to record highs in the long-term.
In an interview with Kitco News, Hecht said that he continues to see similarities between the price action in gold during the 2008 financial crisis and current market conditions as the global economy has been devastated by the COVID-19 pandemic.
"In 2008 the U.S. Federal Reserve and all the central banks around the world put lots of stimulus into the system, and it led to an overall rally in commodities. Gold and silver particularly did well," he said. "I'm not going to ever fight the central banks of the world."
__________________________________________________________________
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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