CNBC Traders: Why to Buy Gold in 2015 (Video)
We were surprised to see mainstream stock speculators actually recommending gold as a good buy last week. On Friday, stock traders on CNBC argued the bull and bear case for the yellow metal, and the bull won. He touched on two of the key fundamentals supporting gold: the ongoing international currency war and huge physical demand for gold.
Of course, none of these traders pointed out that the US dollar’s days are numbered thanks to the Federal Reserve’s policies. Perhaps that’s the black swan the bear doesn’t see coming.
The transcript of the gold bulls’ arguments:
“There are three reasons why you want to buy gold for 2015. Number one, there will most likely be more countries entering the currency war that we are in the middle of at this point in time. Number two, you are seeing tremendous physical buying coming out of Asia, particularly in China. That should, as well, put a floor under gold. Finally, the US dollar correlation – it’s breaking. I’m going to give you a couple stats here… In 2014, dollar gets up 10%. Where’s gold? Only down 1%. Most of that 10% increase, 7% came from November to December. What did gold do? It went up 3%. That correlation is breaking, there are physical buyers out there, you want to own gold…
“I don’t think it’s about the dollar. I think it’s about the physical demand of the commodity, and the physical demand for both gold and silver is through the roof…”
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[…] Last week, traders on CNBC argued the bull and bear case for the yellow metal, and the bull won. Now we have CNBC bigwig Jim Cramer, arguable one of the network’s biggest stock bulls, recommending investors hold gold as “insurance.” […]