Why big investors say it’s time to hoard gold:
Investors believing they need to have gold in their portfolio as a hedge against the outcome of easy central bank policies and for other safety reasons are fueling a run in the metal. Some analysts say gold could easily climb above $1,300 an ounce.
“I think that the you’ve got ‘Brexit’ coming at you. You have a Spanish election coming at you in a week and a half and that is terribly confusing. It looks like the left is going to win. You have rising nationalism in France. You have the strike in France. You have one thing after another,” said Dennis Gartman, publisher of The Gartman letter. Other worries include rising tensions with China in the South China Sea, and Nigeria where militants have shut down oil production.
It will be fascinating to see if England votes to leave the EU.. right now polls put the anti EU ahead by 10 points.. Still some time before the referendum but all eyes will be watching.
