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How Much Higher Could Gold Prices Go?

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    Kaltbaum Capital Management President Gary Kaltbaum on the outlook for stocks and gold.

  • Duration 3:17
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And focus tonight what is driving the stock market blue chips -- prayer session highs today take a look here at the -- Thirteen 1003 -- since we've come a long way from just a few years ago.

From minus I'm joined by Gary outbound investment advisor president of capped on capital management can't what do you make of the run up that we've seen in stocks is it gonna stick be.

Do you invest now.

I think right now with sticking you know whenever you get a good break out of the major indices like the S&P and NASDAQ all over the high is which has been going back about six months.

It's usually good news and look who look no further just what you've been talking about central banks.

It's not only Bernanke now but it's now the European Central Bank that is gonna flood the markets.

With hundreds of billions if not trillions of dollars of.

Money conjured up and it's been helping the market since march of 09 -- looks like it's gonna continue to and when you have valuations that are not really out of whack.

Bought an earnings that are OK nothing great -- tends to love you know -- -- by the markets and that's what you're -- here.

You know -- September is traditionally not a great month for stocks the last couple years have been kind of a strange phenomenon do you think that this September that we're gonna hold -- -- levels.

I actually do.

One of the reasons as it is an election year and usually it to the end of the year an election year no matter who wins is usually good -- and for me off I watch the market most importantly.

And what you saw this week eight you saw financials move and out.

And nothing bad happens like -- move out and the worst period the markets and that's like this feels the metals and mining in the like.

They came off below -- getting some sort of -- participation here if I think we're in good shape for now.

Can't get before I let -- go -- a lot of news on Amazon over the last couple of days specialist for eight hours -- mean what do you make Amazon is so like at.

Yeah -- -- big holder the stock let me just say that upfront yet -- absolutely.

Great sales growth the earnings in -- come along once they stop spending like crazy.

And -- coming out with new products that the market obviously likes well with the -- alike.

Ought and it's run into new high ground as of today so it's one of those growth names I'm really fond up I have to tell you -- Ed and I love gold and silver here I think there.

Bearish market the last sixteen months open I think gold's had to -- when he 503000.

Over the next couple years.

But didn't do you make that assumption on gold based on what we're think we're gonna get from -- gain RD base assumption on the fact the global economy might continue to be.

Someone of a downer.

Well you have to remember we have been had easy monetary policy all ready for -- while that's getting into the system right now.

With more easing the comment that just stuff pleased that the gold's hand I think you the action you saw the last week the big money crowd -- -- is just the start.

And -- you know gold's been a bull market for about 1012 years now usually in the last few years of that kind of bull move -- -- monstrous move to the upside.

I think we may see something akin for the late seventies -- gold actually went up fourfold in the last couple years and actually doubled in the last few weeks.

Before -- finally topped out in January of eighty and that's what I'm counting on Gary K we're gonna have talk next week and Bernanke decides to Iraq.

I'll probably do something I'm gonna be instance to reach your morning at which an everyday anyway Gary -- down Gary thank you.

My pleasure have a that we.

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