Fox News: Gold Hits Multi-Month Highs as Stocks Slide
It shouldn’t be much of a surprise that gold is rising in price as stocks are sliding. Gold investors have known for years that gold prices often rise when stock prices fall, as mainstream investors who spurn gold during boom times flock to the yellow metal when market conditions begin to deteriorate. Now gold’s performance is starting to catch the attention of the mainstream media, as Fox Business has picked up on gold hitting highs that haven’t been seen in months.
Among the reasons cited for gold’s recent boost are:
- Weakening global stock markets pushing investors into gold;
- Falling oil prices and rising bond yields stoking fears of a global recession;
- Uncertainty about the direction of future Federal Reserve monetary policy; and
- Concern about weakening economic data.
Some traders also expect the price of gold to be affected by a weakening dollar, while others expect a slowing of interest rate hikes to benefit gold’s value. In any case, 2019 could be a breakout year that should benefit gold IRA investors. The only question that needs to be answered is how high gold will rise this year.
