Good Squawk on Gold from CNBC Guest
Posted By | May 7, 2017
If you are an investor, you would do well to spend the daylight hours tuned into CNBC. It’s a great source of breaking financial news, exposing the public to the keenest minds in business. One of the best CNBC shows is Squawk Box, and the latest show was particularly interesting to us gold bugs.
That day, the managing director of Swiss Asia Capital, Juerg Kiener, reiterated his bullish stance on gold, saying "from a fundamental point of view, I think we're going to get a breakout on the upside."
Kiener has the wisdom to know that short-term predictions in any market are treacherous, but he does believe in medium-term trends. His view of gold’s trend is that it will continue upward until he sees “stability coming into the financial system and government behavior." Well, President Trump is many things, but stable probably isn’t one of them. That’s why we elected him! You can’t drain the swamp, bomb the heck out of ISIS, and maintain stability.
The world is trembling, awaiting Trump’s next move. Unlike past commanders-in-chief, Trump doesn’t warn anybody about his plans. If that makes the world jittery, well maybe that’s a good thing. Or should I say, too good – for gold investors. As international events heat up, Kiener forecasts that the small percentage of worldwide assets invested in gold will rise as more people look for alternatives.
Kiener predicts gold will test the $1,400 to $1,450 resistance level in the next 8 to 18 months. If gold pierces these levels, he sees the yellow metal challenging its all-time highs.
Gold has gained strength in the last month. After hitting a short-time low of $1,198/ounce, gold has risen about $90, closing on April 20 at about $1,281. The current tense situation with North Korea could annihilate Seoul if things get out of control. If something like that occurs, what will happen to the price of gold? Do you want to risk not owning gold in these threatening times?
Opening an Augusta® Gold IRA from Augusta Precious Metals is a terrific way to accumulate gold. You get a tax deduction on your contributions, and you don’t pay taxes until you withdraw your money later on. You can contribute up to $6,500 a year, if you are 50 or older, and put that money to work by buying gold coins from Augusta Precious Metals. Don’t wait for things to go all to heck. Stock up on gold now and experience the feeling of security that owning gold has given shrewd investors for thousands of years.
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