Gold prices rose slightly on Monday, but still hovered around a four-month lows amid a move by investors into higher yielding assets in anticipation of interest rate increases from the world’s major central banks.
Gold has fallen more than 6.7% over the past month, with the bulk of the decline coming in the latter days of June when three of the world’s top central bankers — Janet Yellen, Mario Draghi and Mark Carney — made speeches indicating that interest rates will begin to increase around the world as economies grow and the effects of the financial crisis are finally left behind… Read Full Article
Investors are fleeing to gold in a desperate attempt to weather the recent market volatility… but is this long time “safe-haven” actually poised to collapse wiping out trillions of dollars of wealth in the process?
One highly respected Harvard economist is stating an emphatic “yes!”.
“While many economists will argue that gold is not in a bubble… and insist it will soar to $2,000, $5,000 and even $10,000, my research has said otherwise” says Harvard economist Harry Dent in his latest report. “I’ve never been more certain of anything in over 30 years of economic forecasting.” Read Full Article
Employment figures lift case for higher interest rates, which would dent precious metal’s appeal
Gold prices extended losses on Friday after a better-than-expected jobs report dented safe-haven demand and increased concerns that the Federal Reserve could raise interest rates in the coming months.
Gold for December delivery settled down 1.7% at $1,344.40 a troy ounce on the Comex division of the New York Mercantile Exchange, its biggest one-day loss since May 24.
The U.S. economy added 255,000 jobs in July, beating economists’ expectations of 179,000 and signaling that the labor market is on strong footing… Read Full Article