Dateline October 13, 2016: Now may be a good time to invest in gold, according to a recent article in CNBC. So far this year we have had an amazing bull run in gold and other precious metals, lifting the yellow metal up 18 percent and into a new bull market. During the 3rd quarter of this year, gold passed the $1350/oz. mark several times. Recently it has retraced back to near $1260/oz.
CNBC’s View On Gold
The CNBC article by Luke Graham, published October 11, 2016, mentioned several points that make a strong case for holding gold in your portfolio.
- Joni Teves, a UBS strategist mentioned in the article, stated: “We think that the recent price correction and sizeable decline in positioning improves the risk-reward for gold, allowing those who are looking to build longer-term gold exposures to build positions at better levels.”
- Also, India and China, the world’s biggest gold consumers, are heading into their traditional gold buying season and many Indians and Chinese have pent-up demand for gold.
- Additionally, adverse surprises in the US Presidential election and in the global interest rate picture also have the ability to spur gold upward.
Gold’s recent price retracement may simply be a buying opportunity for shrewd investors.
Where to Buy Investment-Quality Gold
Your best bet for making investments in bullion, whether gold bullion coins, gold bars or numismatic gold, is to buy online from reputable dealers that have a low prices, exceptional service and a long track record of quality business. Golden Eagle Coins is our preferred source for gold and silver bullion and you can rest assured that they will treat you well.
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