While the furious rally that proppeled gold higher in the first quarter – by the most in 25 years – appears to have fizzled, it is hardly over. So for those wondering when they should add to their position, or start a new one, here is some advice from Geneva Swiss Bank, which believes that $1,180-$1,190 “may be a good level to buy gold.”
The bull case is known to everyone by now, but here it is again, from the source:
- We believe that gold remains a great hedge against currency debasement
- Investors increasing doubts on the effects of central banks aggressive monetary policies will continue to be a tailwind for the only currency that machines can’t print
- Last but not least, asset allocators are piling back into gold again.
The result: the following chart.
The post Where One Swiss Bank Will Be Buying Gold appeared first on crude-oil.top.