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Gold is outperforming tech stocks this year, and investors should keep buying, BofA says
Yahoo Finance ^ | 8/23/24 | Matthew Fox

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 ...


TOPICS: Business/Economy; Government; Politics/Elections
KEYWORDS: economy; gold; inflation; silver; stockmarket; wboopie
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My goodness! Gold is already at record highs--over $2500. How high will it go?
1 posted on 08/23/2024 5:19:50 PM PDT by CFW
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To: CFW

Would not be surprised at $2.8K oz. or more by years end. I now await the onslaught.


2 posted on 08/23/2024 5:36:09 PM PDT by Right Brother (From Biden to Harris. From pee pads to kneepads.)
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To: CFW

Be careful of the gold ETFs like GLD. They may be scams. Better to buy gold mining stocks like NEM.


3 posted on 08/23/2024 5:37:14 PM PDT by Diversity Is Our Weakness
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To: CFW

Hopefully $3000 by the end of the year.


4 posted on 08/23/2024 5:37:41 PM PDT by CaptainK ("No matter how cynical you get, it is impossible to keep up” -)
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To: CFW

And silver is outperforming gold.


5 posted on 08/23/2024 5:47:34 PM PDT by E. Pluribus Unum (The worst thing about censorship is █████ ██ ████ ████ ████ █ ███████ ████. FJB.)
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To: Diversity Is Our Weakness

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.


6 posted on 08/23/2024 5:49:49 PM PDT by CFW
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To: E. Pluribus Unum

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!


7 posted on 08/23/2024 5:50:14 PM PDT by hillarys cankles
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To: CFW

Do like Hillary—Buy cattle futures-—sure winner with certain brokers.


8 posted on 08/23/2024 5:53:34 PM PDT by Mark (DONATE ONCE every 3 months-is that a big deal?)
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To: E. Pluribus Unum

I’d prefer silver to gold. It’s what the founding fathers had intended for us.


9 posted on 08/23/2024 5:54:16 PM PDT by EvilCapitalist (Pets are no substitute for children)
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To: hillarys cankles

“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!”
*********************

Lots of talk the last few days about a new battery that will cause silver to soar. I own some WPM and PAAS.


10 posted on 08/23/2024 5:57:46 PM PDT by Diversity Is Our Weakness
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To: hillarys cankles

This one might skyrocket. https://sdbullion.com/2024-1-oz-president-donald-trump-silver-presidential-medal I just bought one recently.


11 posted on 08/23/2024 5:58:15 PM PDT by EvilCapitalist (Pets are no substitute for children)
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To: CFW

Blmk


12 posted on 08/23/2024 6:24:10 PM PDT by sauropod ("This is a time when people reveal themselves for who they are." James O'Keefe Ne supra crepidam)
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To: Big Red Badger; caww; Cleebie Grums; CFW; C210N; ComputerGuy; CPT Clay; Diana in Wisconsin; ...

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.

13 posted on 08/23/2024 6:55:31 PM PDT by aMorePerfectUnion (🦅 MAGADONIAN ⚔️ )
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To: CFW

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.


14 posted on 08/23/2024 7:01:22 PM PDT by irish guard
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To: irish guard

I’d like to see what happens between now and October in the stock market...


15 posted on 08/23/2024 7:11:08 PM PDT by aMorePerfectUnion (🦅 MAGADONIAN ⚔️ )
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To: CFW

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

right, buy high, sell low ... oh, wait ....


16 posted on 08/23/2024 7:13:56 PM PDT by catnipman ((A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil))
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To: catnipman

“Bank of America” strategist....

Hmm.


17 posted on 08/23/2024 7:25:42 PM PDT by larrytown (A Cadet will not lie, cheat, steal, or tolerate those who do. Then they graduate...)
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To: catnipman

“Bank of America” strategist....

Hmm.


18 posted on 08/23/2024 7:25:42 PM PDT by larrytown (A Cadet will not lie, cheat, steal, or tolerate those who do. Then they graduate...)
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To: hillarys cankles
....I’m gonna be RICH I tell ya! RICH!....

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.

19 posted on 08/23/2024 7:44:50 PM PDT by ReformedBeckite (1 of 3 I'm only allowing my self each day)
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To: irish guard

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.


20 posted on 08/23/2024 8:07:10 PM PDT by delta7
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