Gold News: Investors Double Down on Gold

Gold News

In the latest gold news: As of August 8, 2016, at 5:04 AM EST, gold was selling at $1331.80 per ounce, down from $1348.62 per ounce at this time last week. Regardless of the stagnant week for gold, investors continue to add gold to their portfolios.

Gold News

Gold has been increasing steadily over the year due to a volatile market and minuscule interest rates. Investors are scrambling to add hard assets to their portfolios as a foundation for certainty in their investments.

With the fed recently announcing stagnant interest rates, investing in gold seemed like a safe bet to all. Well-known investors such as Bill Gross, Stanley Druckenmiller, Jeffrey Gundlach, and George Soros have all recently added gold to their portfolios. The expected value of gold from many analysts is also significantly higher than it is now. Gundlach believes gold will rise to $1400. Bank of America analysts believe $1475. Juerg Kiener (Swiss Asia Capital’s managing director and CIO) believes gold with reach $1900 which is its all-time high.

On July 24th, I Know First’s algorithm accurately predicted that gold and silver prices would increase and stocks would have positive returns as seen in “Gold Forecast Based on Predictive Statistics: Returns up to 3.64% in 1 Week.” I Know First’s average percent change came out to an impressive 2.60%.

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