Gold Smashes 9-Year High as Fear & Uncertainty Grip Investors
Gold’s spot price is headed for a record high after blasting past $1,800. Bullion last breached this level in September 2011–about a month after Standard & Poor’s cut the United States’ AAA credit rating for the first time. At a price of nearly $1,814, gold is currently 6% shy of its all-time high. That represents a jump of over 2% from Tuesday’s low. Here are three reasons why the yellow metal is rallying as investor sentiment worsens.
Growing Concerns Over Economic Recovery Goldman Sachs projected that the U.S. economy would contract nearly 5% this year. The World Bank expects global GDP to contract 5.2% this year. Fears of a slowing economy are forcing investors to hedge their bets with gold. This is especially so as investor sentiment worsens, and warnings of a stock market pullback grow louder.
Currency Debasement Is Good For Gold Stimulus measures around the globe are creating the perfect environment for a gold rally. Across the world, governments are pouring money into economies to stimulate a recovery. In the U.S., the CARES Act injected
Growing Concerns Over Economic Recovery Goldman Sachs projected that the U.S. economy would contract nearly 5% this year. The World Bank expects global GDP to contract 5.2% this year. Fears of a slowing economy are forcing investors to hedge their bets with gold. This is especially so as investor sentiment worsens, and warnings of a stock market pullback grow louder.
Currency Debasement Is Good For Gold Stimulus measures around the globe are creating the perfect environment for a gold rally. Across the world, governments are pouring money into economies to stimulate a recovery. In the U.S., the CARES Act injected $2 trillion into the economy. A further $3 trillion under the HEROES Act is in the pipeline. Other major economies are planning or have already launched similar measures. Japan’s total spending to combat the economic fallout from the pandemic is now about $2.18 trillion. Meanwhile, EU leaders will meet later this month to negotiate a $2.07 trillion long-term budget and economic rescue package for the bloc.
Gold Bulls Running Rampant The gold rally is aligning with Wall Street’s expectations. Last month, Goldman Sachs predicted that gold would hit a price of $1,800 within three months. That price target has now been reached. Goldman expects the yellow metal to hit $1,900 within the next six months and $2,000 in 12 months. JPMorgan Chase has equally urged investors to stick with gold due to the low yields and elevated risks. Investors have responded positively to these calls. The latest CFTC data show increasing net bullish bets on gold futures and options for the third week in a row.
Gold Smashes 9-Year High as Fear & Uncertainty Grip Investors, CCN, Jul 8
trillion into the economy. A further trillion under the HEROES Act is in the pipeline. Other major economies are planning or have already launched similar measures. Japan’s total spending to combat the economic fallout from the pandemic is now about
Growing Concerns Over Economic Recovery Goldman Sachs projected that the U.S. economy would contract nearly 5% this year. The World Bank expects global GDP to contract 5.2% this year. Fears of a slowing economy are forcing investors to hedge their bets with gold. This is especially so as investor sentiment worsens, and warnings of a stock market pullback grow louder.
Currency Debasement Is Good For Gold Stimulus measures around the globe are creating the perfect environment for a gold rally. Across the world, governments are pouring money into economies to stimulate a recovery. In the U.S., the CARES Act injected $2 trillion into the economy. A further $3 trillion under the HEROES Act is in the pipeline. Other major economies are planning or have already launched similar measures. Japan’s total spending to combat the economic fallout from the pandemic is now about $2.18 trillion. Meanwhile, EU leaders will meet later this month to negotiate a $2.07 trillion long-term budget and economic rescue package for the bloc.
Gold Bulls Running Rampant The gold rally is aligning with Wall Street’s expectations. Last month, Goldman Sachs predicted that gold would hit a price of $1,800 within three months. That price target has now been reached. Goldman expects the yellow metal to hit $1,900 within the next six months and $2,000 in 12 months. JPMorgan Chase has equally urged investors to stick with gold due to the low yields and elevated risks. Investors have responded positively to these calls. The latest CFTC data show increasing net bullish bets on gold futures and options for the third week in a row.
Gold Smashes 9-Year High as Fear & Uncertainty Grip Investors, CCN, Jul 8
.18 trillion. Meanwhile, EU leaders will meet later this month to negotiate a
Growing Concerns Over Economic Recovery Goldman Sachs projected that the U.S. economy would contract nearly 5% this year. The World Bank expects global GDP to contract 5.2% this year. Fears of a slowing economy are forcing investors to hedge their bets with gold. This is especially so as investor sentiment worsens, and warnings of a stock market pullback grow louder.
Currency Debasement Is Good For Gold Stimulus measures around the globe are creating the perfect environment for a gold rally. Across the world, governments are pouring money into economies to stimulate a recovery. In the U.S., the CARES Act injected $2 trillion into the economy. A further $3 trillion under the HEROES Act is in the pipeline. Other major economies are planning or have already launched similar measures. Japan’s total spending to combat the economic fallout from the pandemic is now about $2.18 trillion. Meanwhile, EU leaders will meet later this month to negotiate a $2.07 trillion long-term budget and economic rescue package for the bloc.
Gold Bulls Running Rampant The gold rally is aligning with Wall Street’s expectations. Last month, Goldman Sachs predicted that gold would hit a price of $1,800 within three months. That price target has now been reached. Goldman expects the yellow metal to hit $1,900 within the next six months and $2,000 in 12 months. JPMorgan Chase has equally urged investors to stick with gold due to the low yields and elevated risks. Investors have responded positively to these calls. The latest CFTC data show increasing net bullish bets on gold futures and options for the third week in a row.
Gold Smashes 9-Year High as Fear & Uncertainty Grip Investors, CCN, Jul 8
.07 trillion long-term budget and economic rescue package for the bloc.
Gold Bulls Running Rampant The gold rally is aligning with Wall Street’s expectations. Last month, Goldman Sachs predicted that gold would hit a price of
,800 within three months. That price target has now been reached. Goldman expects the yellow metal to hit
,900 within the next six months and
Growing Concerns Over Economic Recovery Goldman Sachs projected that the U.S. economy would contract nearly 5% this year. The World Bank expects global GDP to contract 5.2% this year. Fears of a slowing economy are forcing investors to hedge their bets with gold. This is especially so as investor sentiment worsens, and warnings of a stock market pullback grow louder.
Currency Debasement Is Good For Gold Stimulus measures around the globe are creating the perfect environment for a gold rally. Across the world, governments are pouring money into economies to stimulate a recovery. In the U.S., the CARES Act injected $2 trillion into the economy. A further $3 trillion under the HEROES Act is in the pipeline. Other major economies are planning or have already launched similar measures. Japan’s total spending to combat the economic fallout from the pandemic is now about $2.18 trillion. Meanwhile, EU leaders will meet later this month to negotiate a $2.07 trillion long-term budget and economic rescue package for the bloc.
Gold Bulls Running Rampant The gold rally is aligning with Wall Street’s expectations. Last month, Goldman Sachs predicted that gold would hit a price of $1,800 within three months. That price target has now been reached. Goldman expects the yellow metal to hit $1,900 within the next six months and $2,000 in 12 months. JPMorgan Chase has equally urged investors to stick with gold due to the low yields and elevated risks. Investors have responded positively to these calls. The latest CFTC data show increasing net bullish bets on gold futures and options for the third week in a row.
Gold Smashes 9-Year High as Fear & Uncertainty Grip Investors, CCN, Jul 8
,000 in 12 months. JPMorgan Chase has equally urged investors to stick with gold due to the low yields and elevated risks. Investors have responded positively to these calls. The latest CFTC data show increasing net bullish bets on gold futures and options for the third week in a row.
Gold Smashes 9-Year High as Fear & Uncertainty Grip Investors, CCN, Jul 8
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