Connect with us

Hi, what are you looking for?

goodbalancefeature.comgoodbalancefeature.com

Investing News

Will Rhind: Gold in Good Position Ahead of Fed; Still Positive on Platinum

The US Federal Reserve’s latest meeting will wrap up on Wednesday (September 20), and gold investors are watching closely to see whether the central bank hikes again or leaves interest rates unchanged at 5.25 to 5.5 percent.

‘I only see the probability of a rate hike happening if clearly there’s some data to suggest that inflation’s on the up again, or something that provides some catalyst for them to raise interest rates,’ he said during an interview. ‘I do think that by and large we’re at the top of the cycle, and we are kind of on the way down, albeit not immediately.’

Looking at the outlook for gold, Rhind said many mainstream market watchers think the metal will fare poorly when the Fed eventually starts cutting rates; meanwhile, stocks will take off. But he’s not convinced that will happen.

‘I’m not necessarily sure that’s the case — I would want to think about what the conditions might be to cause the Fed to cut rates. I think cutting rates probably means that we are either heading for a recession or we are in a recession — an out-and-out recession,’ he explained. ‘(That could be) a market where stocks go higher, and a market where we see a traditional flight to quality, or flight to safety, and people come in and buy gold. So I think gold is actually sitting quite nicely here.’

Rhind also spoke about his bullish outlook for platinum, as well as GraniteShares’ new single-stock exchange-traded funds (ETFs). While investors often use ETFs to get broad exposure to a sector, single-stock ETFs are a way for people with strong convictions to take positions in individual companies. GraniteShares’ single-stock ETF offerings focus on popular companies like Tesla (NASDAQ:TSLA) and NVIDIA (NASDAQ:NVDA).

Watch the interview above for more of Rhind’s thoughts on gold, platinum and more.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

You May Also Like

Stock News

In this episode of StockCharts TV‘s The Final Bar, Tony Dwyer of Canaccord Genuity talks Fed policy, corporate bond spreads, and why the level of interest...

Investing News

Global vanadium-producing countries have benefited from infrastructure spending in China in recent years. However, in 2023 and beyond, the market is likely to be...

Stock News

SPX Monitoring Purposes: Long SPX 10/27/23 at 4117.37. Gain Since 12/20/22: Over 17%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78. Last Thursday, we...

Investing News

Copper prices have rallied to record highs in recent years on expected demand growth amid a supply deficit. While construction and electrical grids have...