Tuesday, March 14, 2017

Don’t Count Gold Out Just Because Dollar’s Going Up: RBC’s Gero | OUTLOOK 2017


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Gold prices continue to be under pressure, especially heading into the New Year as markets expect an environment of continued dollar strength and rising interest rates. However, one market veteran doesn’t seem to concerned. ‘Most gold holders misunderstand gold because it really has a different relationship with the dollar,’ George Gero, managing director for RBC Wealth Management, told Kitco News. ‘Don’t count gold out just because the dollar goes up.’ Gero alluded to a time when interest rates and the dollar were much higher in the U.S. because of inflation pressures, which saw gold prices also performed well. ‘Gold is really a liquid, portable, alternative investments convertible into any currency.’ February Comex gold futures last traded down 3.14% at $1,127.20 an ounce.

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