"I would be buying gold now says UBS Global Wealth exec [Wealth Professional (Canada)]
IHS Markit Ltd. Common Shares (INFO)
Last ihs markit ltd. common shares earnings: 3/24 06:00 am
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Source: Wealth Professional
The precious metal is heading for back-to-back weekly losses but will rebound By Steve Randall Mar 20, 2020 Share Investors have been pulling back from gold Wayne Gordon, its executive director for commodities and FX, told Bloomberg TV that if he was buying right now “I would be buying gold.” That’s because he believes the market will rebound within three to six months after the current downward trajectory. Gordon said that although we can’t draw parallels with the 2008 financial crisis, credit appears to be tightening and increasing demand for the greenback. However, he expects the Fed’s actions to weaken the dollar position over the next 12 months, while ‘real interest rates’ will swing back into negative territory. Combined these will be a “potent power for gold.” Gordon sees gold returning to a mid-1600 to 1700 range in the coming months; in early trading Friday it was around 1500 an ounce and IHS Markit said it could fall as low as 1300 as recession looms. Corporates to hold cash
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