Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Will Gold Return to its Safe-Haven Status?

Details

  • Description

    Chris Gersch of Altimus Capital gives his outlook for gold.

  • Duration 2:00
  • Date

Clips

Also in this playlist...

Commodities

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

I eurozone fears sending gold backed with safe haven status some analysts say well -- levels as high as 18100 dollars the announced by the end the year Sandra Smith -- -- the trading -- -- the -- with.

Today's trade Sandra.

Ever-Glory that hasn't been -- play for -- -- we've actually been seeing weeks and months of selling in gold a lot of people getting out of gold.

And moving into other areas the market accept that Chris first of all miss capital -- to joining us right now.

There seems to be a trade going on I wanna -- -- to viewers' attention because a lot of folks watch gold gold actually up today's up -- -- the past recession but the trend has been down.

From those highs of over 19100 dollars an -- last fall.

It money certainly go back into the yellow madam.

I don't think that.

Money is going back in the gold I think it's really just range bond play like you said we've seen a series of lower lows and and lower highs which really indicates to me that.

We're we're into a squeeze position right now right now screens around from the -- team turmoil is stuck in about 2.5 dollar range I think that the move up today's it's really.

In conjunction with this -- Swiss franc.

More -- less talking about.

Coming in and that being -- safe haven play.

Something that that's not you know really strong as far as US dollar or the Australian dollar Swiss franc is talking about everyone's jumping in the other.

0% yields in that.

All the sudden called.

Becomes more attractive today.

So it's an attractive today -- attractive in the long term Lori said there are a lot of calls out there for 18100 by the end of the year I think that gold.

Long term you will today -- higher level but right now it is what part to shorter player trade for a couple weeks.

I think it's -- series -- I -- so there's a trade and now a lot of traders that you're really trying to figure out where those dollars are going especially as we figure out what the Fed is gonna do next.

-- up at least for today we'll see where 'cause for the -- for the year that's the big question -- I -- so many questions about where we go from here with so many factors influencing.

Assets standards -- -- -- thank you.

Load More