Emanuel Balarie
Emanuel Balarie
broke gold hit might moved ounce people surprise surprised
Gold at $600 an ounce might be a surprise to many, but these are the same people that were surprised when gold hit $300, when it broke $400 and when it moved to over $500.
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Going forward, inflationary concerns will only gain steam, the U.S. dollar will continue its downward decline and geopolitical tensions will continue to draw safe-haven buying from around the globe.
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In any geopolitical tension environment you're going to have people that are going to take their money away from the market and traditionally they would move it to cash, but I think what they are doing now they are seeing the dollar decline and are deciding to move it into gold, which has been moving higher.