BofA says Investors should keep buying Gold!

tincup

Interesting the interest that gold seems to be picking up. According to BofA strategist Michael Hartnett:

• "Gold is now the 2nd largest reserve asset (16.1% vs. 15.6% Euro)"

• Bank of America strategist Michael Hartnett advises buying gold amid record-high prices.

  • Hartnett said potential Fed rate cuts could stoke fresh inflation, which would be bullish for gold.

-- Gold's year-to-date rally of about 20% is outperforming US tech stocks.

Investors should buy gold even as the metal hovers around record-high prices, according to Bank of America investment strategist Michael Hartnett.

In a note on Thursday, Hartnett said investors should "do what central banks are doing… buy gold."

https://finance.yahoo.com/news/gold-outperforming-tech-stocks-investors-233859628.html

blitzdude

@tincup said:
Interesting the interest that gold seems to be picking up. According to BofA strategist Michael Hartnett:

• "Gold is now the 2nd largest reserve asset (16.1% vs. 15.6% Euro)"

• Bank of America strategist Michael Hartnett advises buying gold amid record-high prices.

  • Hartnett said potential Fed rate cuts could stoke fresh inflation, which would be bullish for gold.

-- Gold's year-to-date rally of about 20% is outperforming US tech stocks.

Investors should buy gold even as the metal hovers around record-high prices, according to Bank of America investment strategist Michael Hartnett.

In a note on Thursday, Hartnett said investors should "do what central banks are doing… buy gold."

https://finance.yahoo.com/news/gold-outperforming-tech-stocks-investors-233859628.html

I told you that 25 years ago when the Au was $300. Glad your bank finally got on board at $2500. I should of been a billionaire. Stack on lulZ! What a bunch of quacks. SMH!!

tincup

' bout time they listened to you Biltz! Only took 25 years! But they are still being stubborn about that darned silver~~!!

blitzdude

@tincup said:
' bout time they listened to you Biltz! Only took 25 years! But they are still being stubborn about that darned silver~~!!

I wouldn't expect the gutter to go anywhere. Play the range with the SLV is about all you can do there. Otherwise, it's dead money. THKS!

coinpalice

good advise, now that they are probably going to cut interest rates in September, the dollar will drop against other currencies and inflation will become a big problem again, gold is the ultimate hedge against inflation

derryb

there are much better investments (with risk) than gold. gold is a long term protector (without risk) of wealth.

bidask

Who cares what BAC says

Kinda late advice I think

Wingsrule

I heard it was going to quadruple in the next 5.5 years.

dcarr

@bidask said:
Who cares what BAC says

Kinda late advice I think

.

Sounds like the kind of advice they would give when they want to sell something (to you).
The reasoning they offered for buying gold has some merit (but is very late to the game as you noted).

Silver might actually be a better buy here. If the new Samsung silver-carbon solid-state batteries are a success, then that will boost silver consumption, of course.

.

jmski52

I’m not so sure that it’s all that late in the game.

coinpalice

not at all, remember the current currency crises has not seen a recession yet, and there is one coming at the end of the year, the goverment spent over a trillion dollars trying to make a soft landing on the 2009 great recession, this time no money is available for bail outs, not to mention all the lost tax dollars from the s and p and stock market declines, and the millions of jobs that will be lost

dcarr

@jmski52 said:
I’m not so sure that it’s all that late in the game.

If the starting pitcher shows up at the game in the third inning, that is very late to the game.
But there is still a lot of game to be played.