KITCO NEWS - Gold prices continue to be under pressure, especially heading into the New Year as markets expect an environment of continued dollar strength and rising interest rates. However, one market veteran and longtime precious metals strategist doesn't seem too concerned. "Most gold holders misunderstand gold because it really has a different relationship with the dollar," George Gero, managing director for RBC Wealth Management, told Kitco News. "Don't count gold out just because the dollar goes up." Gero alluded to a time when interest rates and the dollar were much higher in the U.S. because of inflation pressures, which saw gold prices also performed well. "Gold is really a liquid, portable, alternative investments convertible into any currency." February Comex gold futures last traded down 2.84% at $1,130.60 an ounce.
This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.