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Deutsche Bank strategist says gold will keep crashing. (But then what about DB itself?)

Wednesday, October 5, 2016 14:54
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(Before It's News) / By Narae Kim via Bloomberg News / October 5, 2016

It has been a good ride for gold holders this year, as bullion posted its best first half performance in almost four decades.

With global interest rates hovering at record lows, investors have piled into the precious metal. Meanwhile, political uncertainty from Britain’s vote to leave the European Union and the looming U.S. presidential election also fanned demand, sending prices to almost $1,400 per ounce over the summer.

But the shine is coming off amid the prospect of higher rates and reduced monetary stimulus. Bullion tumbled 3.3 percent on Tuesday, the most since July 2015, breaching below $1,300 an ounce for the first time since June.

But this could be a prelude to a bigger selloff, according to Deutsche Bank AG Chief Global Strategist Binky Chadha.

“The way we think about it is, gold looks to be 20 to 25 percent overvalued,” Chadha said in an interview with Bloomberg TV on Tuesday. “Positioning is very, very long.” …

… For the remainder of the report:…


The post Deutsche Bank strategist says gold will keep crashing. (But then what about DB itself?) appeared first on Silver For The People.

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