Gold Is More Relevant Now Than Ever - Strategist

The Fed seems to be pulling in the reins on gold's 2016 rally as markets expect rate hikes sometime this summer.

Author:: Daniela Cambone
Publish date:: Jun 2, 2016 2:54 PM EDT

KITCO NEWS - The Fed seems to be pulling in the reins on gold's (GLD) - Get Report 2016 rally as markets expect rate hikes sometime this summer. But could the Fed also be gold's salvation? What is the central bank's end game? These are just a few questions discussed on Kitco News with Keith Fitz-Gerald, chief market strategist for Total Wealth Research. 'Gold has never been more relevant,' he said. 'I don't believe it's optional and I do believe every investor needs to have it.' Gold has recently lost ground, hitting a 3.5-month low, on heightened expectations of a rate hike in the U.S. August Comex gold futures last traded relatively unchanged at $1,214.50 an ounce.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.