Road to Investing Success Paved With Gold, Not Oil? Bloomberg Intelligence | Kitco News



Kitco News -- Lower oil could be a driver of higher gold said Mike McGlone of Bloomberg Intelligence in an interview with Kitco News on Tuesday. McGlone pointed out that the gold-to-crude ratio may be at risk of following a similar consolidation pattern as the 2015 plunge. "They just aren't producing as much gold as crude oil, which should bode well for the precious metal's price in relative terms," said McGlone. Gold prices scored a three-week high Tuesday with April Comex gold settling the session at $1246.50 an ounce, up 1% on the day. Safe-haven demand amid a big sell-off in the U.S. stock market and a sharply lower U.S. dollar index was helping to boost the yellow metal. Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: http://www.kitco.com/newsletter Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com -- Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews --- Kitco News on Facebook: http://facebook.com/kitconews --- Kitco News on Google+: http://google.com/+kitco --- Kitco News on StockTwits: http://stocktwits.com/kitconews

Comments

  1. Jeez, stop pushing gold ETF's...they are just paper. This guy is a tool.


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Visibility: 2024

Duration: 4m 1s

Rating: 30