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Gold Hits New All-Time Highs Around the Globe, Every Portfolio Should Have Gold

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Gold Hits New All-Time Highs Around the Globe, Every Portfolio Should Have Gold

 On Friday, gold (NYSEARCA:GLD) futures for December delivery jumped $7.80 to settle at $1,778 per ounce, while silver (NYSEARCA:SLV) edged 4 cents lower to close at $34.64. Gold hit new all-time highs in terms of the Euro, Swiss Franc and Brazilian Real.

Gold received heavy attention today after Ray Dalio, founder and
co-chief investment of the world’s largest hedge fund, Bridgewater
Associates, expressed his views to CNBC on the global economy
and alternative currencies. On the current slowdown and deleveraging
process, he said, “I think there will be a combination of monetary
policy and printing a certain amount of money to relieve it. And at the
same time, there’ll be a deleveraging and restructuring of debt…I think
we’re going to see both because you have to lower the debt-to-income
ratio so you have a higher level of growth than you do of interestrates.
And at the same time, there’ll be a deleveraging and restructuring of
debt…I think we’re going to see both because you have to lower the
debt-to-income ratio so you have a higher level of growth than you do of
interest rates.”

Dalio also said he thought Warren Buffett was “making a big mistake” by
publicly bashing gold. He explains, “We have a situation now where when
you have too much debt. Too much debt leads to printing of money to make it easier to service. So all of those things mean that some portion of an investment portfolio should be in gold.”

 By the end of the trading day, the SPDR Gold Trust (NYSEARCA:GLD) closed 0.29 percent higher, while the iShares Silver Trust (NYSEARCA:SLV) edged slightly lower. Gold miners (NYSEARCA:GDX) such as Yamana Gold (NYSE:AUY) and Goldcorp (NYSE:GG) both jumped about 1 percent. Meanwhile, Silver Wheaton (NYSE:SLW) and Endeavour Silver (NYSE:EXK) gained 0.66 percent and 0.86 percent, respectively.

http://wallstcheatsheet.com/stocks/gold-hits-new-all-time-highs-around-the-globe-every-portfolio-should-have-gold.html/


http://precious-metal-investment.blogspot.co.uk/



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