Kitco – Interview with Ronald Stöferle
Higher rates in the short term
Investors should consider building a strategic position in the gold market, despite expectations of lower gold prices in the near term due to rising bond yields on the short end of the curve. Persistently higher inflation has prompted markets to price in aggressive monetary policy action from the Federal Reserve.
Recession Looming
Further downside risk is possible in the next few weeks, but gold is showing relative strength. The rise in shorter-term bond yields indicates a potential recession, which would force the Federal Reserve to unwind its aggressive tightening. We recommend cost averaging and taking advantage of lower gold prices to build a strategic position ahead of the second half of the year, when wwe expects gold prices to end above $2,000 an ounce.
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