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-- only one thing all plunging on subsite to bring with -- -- good shooting up fairly well after the Federal Reserve -- -- -- -- again.
Tapering its bond buying program later this year -- so will be.
Yellow -- ever -- golden again we've got somebody -- that's.
Well joining us now -- storage -- he -- RBC capital markets global futures precious metals.
Strategies and again we got to emphasize George you're -- bull or bear you look at these markets' radar and it is saying what does this mean.
This for me what this means this moment in time is a transformational.
Moment we we -- going from an era where the dollar was nothing where the dollar was something.
-- wipe your mouth without -- dinner.
-- something which has a little more substantial in fact this is one of those first time in years when gold seems to be losing out to the dollar.
I'm wondering if it's fair to say that right starting today.
The dollar is king again.
Cash is king.
And cash in two continents -- king because the euro's been hanging around 133.
And now at 130 to 133.
The euros come up from a -- 117128.
And usually if that happens to a dollar loses ground.
And that helps.
Goals I want catch whether it's dollars or euros or exactly.
You can in cash cows and that's what the market is telling but insisted the dollar story is really what is affecting golden in -- it is not a not a concern about about the fact that maybe there are other -- that might -- -- attract.
Didn't know I wish there were but for the moment you have to realize that gold as a holder it goes for me to you to you.
At various prices depending on our perception.
Of what the world's economy and politics are doing.
The other medals are use your medals.
They disappear because they're used -- being used for housing for automobiles and for.
All sorts of things.
Our silver is industrial demand and investment demand and it's used for computers a lot of other things.
And so and then the other base metals are very important for recovery.
I think we're going back to basics and that is when you'll start to see some inflation and the Fed will allow some inflation.
And that is when you begin to see gold -- get.
And it won't there always is the immediate reason my goal is coming down the opposite of inflation that resolutely -- fact bush finally Ben Bernanke is saying when that he's saying what this is the -- he's not saying we're gonna stop tomorrow.
But he say we have reached a limit I'm listening to people like Paul Volcker -- saying look you do have to be concerned -- about runaway inflation down the road.
And end and Ben Bernanke was listening.
And I once had a discussion with Paul -- -- and very interstate.
On this topic but anyway -- let's now look at what could happen now.
I think for the moment we're going time and the reason we're going down is your gold your title -- specific -- dollar is strong.
Our goal to start needed to stock markets have all -- -- -- doubt even more than go to right now.
But well because it still is much more volatile -- gold and.
I don't know what would you buy them if you're telling me that not to buy a pullback that's now which was 93 dollars and our you have to wait until the market straight -- Until.
The volatility lessons until you begin to see some stability and then you begin to look at some of the other.
Our commodity behaviors and if they start to become expensive -- you buy gold.
When do you think.
This is gonna -- what if they were criticized collateralized by the end of the year probably within the next couple -- and how low does gold go oh I think probably it may be around I was looking for 12:50 -- said this morning.
I I was hearing triple digits but you don't think it'll go below 2000.
You've got 1279 right now and plus -- -- -- work -- there yards aren't trying to help this morning while fifty.
It was going to be a possibility George hero the man who knows gold -- all commodities thank you very much urged Iraqis -- -- -- -- thank you.
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