STAFF NEWS & ANALYSIS
As Billionaires Predict Worldwide Defaults, Would You Rather Hold Bonds or Gold
By Daily Bell Staff – May 27, 2016
Gold on Track for Eighth Losing Session U.S. GDP data revision seen bolstering case for interest-rate increase … Gold prices edged lower Friday, on pace for an eighth straight losing session, amid mounting evidence of improving economic growth in the U.S. that would strengthen the case for an interest-rate increase. –Wall Street Journal
Gold went up by 16 percent in the first quarter of 2016 and kept on moving even afterward for a total of 20%.
Investors are nervous about the economy and the first quarter’s results reflected those nerves with a rise in gold.
Since then it’s moved down some 6% as Janet Yellen has counterattacked with vaguely worded suggestions that the Fed might hike rates again.
As we pointed out…