Gold Bull McEwen Sees Prices as High as $1,900 by End of Year

Gold Bull McEwen Sees Prices as High as $1,900 by End of Year

Robert McEwen, one of the gold’s industry’s most unabashed bulls, is predicting prices could surge as much as 44 percent by the end of the year as confidence in the economy buckles.

The metal could trade in a range of $1,700 an ounce to $1,900 by the end of 2016 as uncertainty builds around the stability of global currencies and sovereign debt, said McEwen, who’s so enamored by bullion that he’s founded two producers: McEwen Mining Inc. and Goldcorp Inc. Record-low global interest rates will cause a “huge amount of anxiety” for investors, who will turn to gold as a store of value and an alternative asset, he said.

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Inverse relationship between gold, stocks has never been this extreme - MarketWatch

Inverse relationship between gold, stocks has never been this extreme - MarketWatch

Gold traders are waiting to hear if the Fed will hint at higher rates in September, but “it’s also important to note that gold certainly qualifies as a flee-to-safety investment for those worried about the state of the economy and the markets,” as the yellow metal’s correlation to the stock market falling “through the trap door” indicates, Koos said.

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Major September Buying By Russian And Chinese Central Banks Suggests Gold Market Still Has Long-Term Glitter - Seeking Alpha

Major September Buying By Russian And Chinese Central Banks Suggests Gold Market Still Has Long-Term Glitter - Seeking Alpha

Russian gold reserves soar by 1 million ounces in August. China also increases their gold reserves significantly in August. Both countries are increasing gold reserves despite negative foreign exchange flows.

This should be positive for investors in gold as both nations believe gold is priced cheaply enough to increase their positions in a weak financial environment.

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Nazi gold train draws treasure hunters to Poland - The Guardian

Nazi gold train draws treasure hunters to Poland - The Guardian

Polish authorities have blocked off a wooded area near a railway line after scores of treasure hunters swarmed south-west Poland looking for an alleged Nazi gold train.

The city of Wałbrzych and its surrounding wooded hills are experiencing a gold rush after two men, a Pole and a German, informed authorities through their lawyers that they had found a Nazi train with armaments and valuables that reportedly went missing in the spring of 1945 while fleeing the Red Army.

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