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 ...
If Harris is elected, gold will go to $10,000 per oz
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Brass , Lead and copper
Spark my interest Also !
It’s not beating the magnificent seven stocks!
Done!
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