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Posted on 08/23/2024 5:19:50 PM PDT by CFW
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."
That's because interest rate cuts from the Federal Reserve in the coming months pose a risk to stoking a rebound in inflation next year, Hartnett said, and real assets, like gold, have historically performed well during bouts of inflation.
Hartnett's comments come amid a record rally in the precious metal, with gold prices surging about 20% year-to-date, outpacing the gains of the S&P 500 by a few percentage points, and outperforming technology stocks.
(Excerpt) Read more at finance.yahoo.com ...
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Would not be surprised at $2.8K oz. or more by years end. I now await the onslaught.
Be careful of the gold ETFs like GLD. They may be scams. Better to buy gold mining stocks like NEM.
Hopefully $3000 by the end of the year.
And silver is outperforming gold.
Be careful of the gold ETFs like GLD. They may be scams. Better to buy gold mining stocks like NEM.
Agree on the ETFs. Research carefully before you buy. NEM has been doing great! As has AEM, AGI, GOLD, and WPM. Some of our gold stocks are up 50% or more from the time we first started purchasing them a couple of years ago.
i have way too much physical silver on hand. Takes up a ton of room. If it ever skyrockets I’m gonna be RICH I tell ya! RICH!
Do like Hillary—Buy cattle futures-—sure winner with certain brokers.
I’d prefer silver to gold. It’s what the founding fathers had intended for us.
“i have way too much physical silver on hand. Takes up a ton of room. If it ever skyrockets I’m gonna be RICH I tell ya! RICH!”
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Lots of talk the last few days about a new battery that will cause silver to soar. I own some WPM and PAAS.
This one might skyrocket. https://sdbullion.com/2024-1-oz-president-donald-trump-silver-presidential-medal I just bought one recently.
Blmk
If YOU would like to be on a Gold & Silver PING LIST, please pm me.
The Gold & Silver Ping List covers the following:
Everything Gold & Silver
Stock market investments in mining companies,
etc.
Sure…gold….meanwhile, tech stocks…. Nvidia up 161% YTD, Apple up 18.3%, Microsoft 11.4%, Goog 17.6%, Meta 49.4%. I’ll take a basket of those five stocks over gold.
I’d like to see what happens between now and October in the stock market...
“Bank of America strategist Michael Hartnett advises buying gold amid record-high prices.”
right, buy high, sell low ... oh, wait ....
“Bank of America” strategist....
Hmm.
“Bank of America” strategist....
Hmm.
More likely if you get rich from Gold, it is probably more likely because of inflation and the value of the dollar dropping. So if you get rich from Gold you will need all that extra money to buy the same stuff as before you bought your gold.
I’ll take a basket of those five stocks over gold.
——-
To bad they are denominated in an ever decreasing unit- the USD is losing value every day. It has lost 90 percent plus purchasing power since its inception, and Gold has increased 100 fold.
Gold 1920’s, $25….Gold 2024, $2500. Gold has not gone up, the Dollar has gone down. It takes more dollars to buy an ounce of Gold. A hard concept for Joe six pack to realize.
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