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Gold Hurt By Record-Low Treasury Yields

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    Keith Fitz-Gerald of Money Map Press on the future of the precious metal and U.S. currency.

  • Duration 2:41
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-- using US treasuries to take shelter from the debt storm in Europe.

What about gold is -- that the traditional safe haven.

Joining the company now from Portland Oregon -- Keith FitzGerald with money map press.

So tell what is going on was -- I was always told the when you -- world total oil you're go to gold belt would -- world turmoil but would all going to goal why not.

Well you get two things it works Stewart as -- -- as Europe goes to the dogs traders with institutional portfolios are liquidating gold raising cash to meet either redemptions or margin request.

And they're preferring dollars over the metal most gold is priced in dollars and that's why you see the two running in different directions.

Gold's run up eleven years this is entirely normal I'm not overly concerned by this.

Well -- I think that at some point the Europeans will stop printing a lot of euros.

As a way of trying to get themselves out of this mess I think they're -- print trillions quite frankly that's just an opinion on my -- now let's suppose I'm right when they do it.

I think that gold starts to go off significantly.

Because the long term possibility of inflation.

And I think that stocks go weight off.

Because the US dollar will go down I'm getting kind of in the -- -- but what do you think they will print and -- markets react what -- you say.

I actually don't think you're in the weeds at all through -- very close to where I -- I think that we're gonna have one last -- Somebody in Europe is gonna stay the emperor has no clothes the European bankers are gonna panic they're gonna start -- trillions of euros the Fed is gonna jump on that bandwagon.

It's gonna start -- money.

The markets are addicted to stimulus it doesn't take a rocket scientist to figure that out when that happens off we go to the races gold goes up markets go up I think gold gonna break 15100 bucks before it does it.

But still the effect is going to be the same.

The -- we would get that balance if and when they print.

We would also would delay any European crisis until after America's election and actually is what President Obama wants.

You know that's an interesting when I'm not Smart have to figure out what Obama is doing let's I don't know that Obama's -- to figure out -- the markets are doing frankly I think he's got a problem with today's -- when you've got the economic growth rate slowing to about 1% range in the unemployment situation worsening I think that's a big problem for President Obama just purely domestically and you say.

I agree I would not wanna be and his White House planning presidential run with the numbers looking like they are today as a very bad situation for incumbent and by the way we've not yet gotten a White House response.

From the to -- -- GDP numbers all the employment numbers I guess we'll get won't tomorrow.

After the big jobs report -- -- facility -- -- case we appreciate being with us as always thanks very much so.

Thank you want to.

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