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It's a mistake to connect a much more hostile Federal Get with lower gold prices, said Christopher Ecclestone, primary as well as mining planner at Hallgarten & Carbon monoxide, informed Michelle Makori, lead support as well as Editor-in-Chief of Kitco Information, on the sidelines of the Mines as well as Cash London conference..
" Traditionally, gold has been a hedge versus rising cost of living. There is an incorrect view that greater rate of interest would certainly affect the rate of gold due to the fact that apparently individuals are borrowing money to get gold which is completely a fake construct," Ecclestone claimed. "Many people are utilizing gold as a financial savings method.".
They likewise talked about how inflation influences the rate of gold. Hallgarten creates research on the natural deposits industry.
Adhere To Michelle Makori on Twitter: @MichelleMakori ().
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Is an aggressive Fed bad for gold prices? 'It's a bogus construct' – mining strategist
It's a mistake to link a more aggressive Federal Reserve with lower gold prices, said Christopher Ecclestone, principal and mining strategist at Hallgarten & Co, told Michelle Makori, lead anchor and Editor-in-Chief of Kitco News, on the sidelines of the Mines and Money London conference.
"Traditionally, gold has been a hedge against inflation. There is a mistaken view that higher interest rates would impact the price of gold because supposedly people are borrowing money to buy gold which is totally a bogus construct," Ecclestone said. "Most people are using gold as a savings method."
They also talked about how inflation impacts the price of gold. Hallgarten produces research on the natural resources sector.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
__________________________________________________________________
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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