There's Still REAL Value in Gold in Today's Market Says Greg Weldon
KITCO NEWS - It is not surprising to see pullbacks in gold over the short term, this according to Greg Weldon of Weldon Financial, who says would present great buying opportunities for investors. Speaking with Kitco News, he said gold remains in a secular bull market that still has 'new highs' left to hit. 'With the strength in the payroll number, we might expect to see a pullback that could be fairly significant in the near term but we think that's a major buying opportunity for the longer term,' he says. The catalyst, he continues, will be a slowing global economy, which he refers to as a 'bonfire,' due to more failed central bank policies. 'In order to fuel that bonfire you need to keep throwing paper - in this case currency - into it...if you let that fire burn out, you have a debt deflation and that's the last thing they [central bankers] want,' he said. 'From that perspective, what's the next step? What's the next thing central banks will be forced to do?' he questioned.
This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.
