Despite hovering near record prices, gold and stocks of bullion producers remain good bets, analysts say.
“Despite the strong move, we remain bullish on gold,” says the report by lead author Carey MacRury. “With $15 trillion in negative-yielding debt globally and amidst a global easing cycle , we believe gold is well-positioned to move higher.” However, many observers project tougher trade talks ahead when negotiations boil down to contentious issues.
“Gold is the sound alternative in a negative-rate world where flat currencies and government bonds are losing value in real terms,” according to the Canaccord Genuity report. “We note that yields have been falling for decades and despite the recent cyclical high, yields are back to near all-time lows.”
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