Contact us
CALL US NOW 1-888-GOLD-160

Gold: The Safe Place to Go

  by    0   0

Gold finished the first quarter of 2017 up 8% for its best quarterly showing in a year, and Todd Colvin of Ambrosino Brothers says the yellow metal’s Q1 performance bodes well for the future. In a CNBC interview, Colvin said his focus on the macro picture makes him bullish on gold. “It’s not just US growth. It’s Fed policy. It’s US fiscal policy. It’s European elections,” he said.

Todd Colvin talking about gold on CNBC

Colvin focused in specifically on the actions of the Federal Reserve. Despite the promise of three interest rate hikes in 2017, he said market uncertainty may derail those plans. Colvin pointed out that the Fed was making similar promises in January of last year, and it never came to pass.

“I think the Fed right now is still seeing the economic and policy as glass half full without any real evidence, and they need to get those first quarter hard data numbers in. They need to get through some of these cloudy events coming up like the French elections and more FOMC meetings in order to see where policy is really going to go.”

So, the bottom line according to Colvin is uncertainty – and uncertainty is good for gold, a traditional safe haven. “Right now gold is still a safe place to go, and with equities still at all-time highs … there’s a big downside risk there that gold provides insurance against.”


Get Peter Schiffís latest gold market analysis ñ click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

What Is Counterparty Risk and How Can You Minimize It?

One of the reasons to own physical gold is that it doesn’t come with any counterparty risk. In simplest terms, counterparty risk is the chance that one party in a financial transaction will default on its contractual obligation. My asset is somebody else’s liability. If I loan you money, there is always the possibility that […]


China Dumps US Treasurys for Third Straight Month

China dumped more US Treasurys in May, pushing their holdings to the lowest level in two years, according to data released this week by the US Treasury Department. The Chinese divested themselves of US debt for the third straight month, selling off another $2.8 billion in Treasurys in May. The month before, China dumped $7.5 […]


Ray Dalio Says Get Ready for a Paradigm Shift; Buy Gold!

Hedge fund king Ray Dalio says we are on the cusp of a “paradigm shift” and investors should buy gold. In a post at LinkedIn, Dalio described paradigms as relatively long periods when markets and market relationships operate in a certain way. Eventually, the paradigms become “overdone” and we see a major shift. In paradigm […]


Americans Are Still Running Up Their Credit Cards; Consumer Debt Sets Another Record

Americans are buying stuff. Retail sales were stronger than expected in June. Auto sales increased by 0.7% after a similar rise in May, helping boost total retail spending. Overall, retail sales were up 0.4% last month. The Commerce Department revised May sales down from 0.5% to 0.4%. Increasing retail sales would seem to be a […]


US Government About to Bump Up Against Debt Ceiling Again as Spending Continues Unabated

US Treasury Secretary Steve Mnuchin said the Trump administration and congressional leaders are getting closer to a deal to raise the debt ceiling. Meanwhile, the US budget deficit is has increased by 23.1% year-on-year through the first nine months of fiscal 2019. Mnuchin wants Congress to go ahead and raise the debt ceiling before the […]


Comments are closed.

Call Now