CNBC’s Jim Cramer says now is the perfect time to buy gold. He says the yellow metal is poised to rally, making now an optimal time for investors to pounce. In other news, experts say it’s likely that gold prices will soon be back on the rise. Bloomberg Intelligence, Mike McGlone, tweeted that it’s just a “matter of time” before gold hits $2,000, citing limited production versus the unlimited production of fiat currencies.

 

CNBC/Krystal Hurr
Charts suggest now is the perfect time to buy gold, Jim Cramer says

CNBC’s Jim Cramer on Wednesday told investors that gold is poised to rally, making now an optimal time for investors to pounce.

“The charts, as interpreted by the legendary Larry Williams, suggest that the general public’s giving up on gold en masse and he thinks that that makes it the perfect entry time to do some buying,” the “Mad Money” host said.

Gold futures fell on Wednesday, facing pressure from a stronger U.S. dollar and Treasury yields after Federal Reserve leaders’ hawkish comments on inflation the day before took metals lower.

Gold is considered a safe investment and often attracts investors during periods of economic and geopolitical turmoil.

You can read the full article, here.

 

Finbold/Dino Kurbegovic
Gold reaching $2,000 may only be a ‘matter of time’, suggests commodity expert

Gold as an investment vehicle is more often than not driven by the opposing forces of persistently high inflation and central banks raising rates as a response.

In 2022, this scenario played out, with gold initially recording highs; however, it has since fallen off and, at the time of writing, is trading at $1,787.91 an ounce.

Nevertheless, senior commodity strategist at Bloomberg Intelligence, Mike McGlone, tweeted on August 4 that it’s just ‘a matter of time’ before gold hits the $2,000 level due to limited production versus the unlimited production of fiat currencies.

Continue reading, here.

 

Yahoo Finance/Ines Ferré
2 reasons the ‘risk of recession is getting higher and higher’: Mohamed El-Erian

The risk of a recession “is getting higher and higher,” says veteran economist Mohamed El-Erian.

“My definition of a recession is a holistic definition. It goes well beyond two quarters of negative GDP,” said the chief economic advisor of Allianz and former CEO of PIMCO.

“The labor market is too strong. Consumer spending is too strong. Business balance sheets are too strong. We simply are not in a recession. Is the risk of recession high? Yes, it is high and getting higher,” El-Erian said on Yahoo Finance’s “Influencers with Andy Serwer.”

Keep reading, here.

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