Though the market recently has battered gold prices and ETFs have seen funds reduce their positions, one analyst argued that investors should buy and sell the exchange-traded funds based on their own longer-term forecasts.
"I think it depends on what your outlook is for gold. If you think that the macroeconomic environment has changed in some way for the longer term, then it may be an opportunity to sell gold," Will Rhind, managing director at ETF Securities U.S., said in an interview. "If you still believe that not much has changed -- we're in a currency war, these interest rates will remain at these low levels -- then perhaps it may be even a buying opportunity.
-- Written by Joe Deaux in New York.>Contact by Email. Follow @JoeDeaux
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV