Economics
Gold Seen Climbing on Weak Dollar, Global Political Tension
- U.S. rate increases are already priced in: Prestige Economics
- Bullion may ‘sky-rocket’ on weak U.S. GDP in first quarter
Prestige's Schenker Sees Gold Heading Higher
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Gold will extend its rally as the dollar weakens, future U.S. interest rate increases are already priced in and equity markets decline amid mounting geopolitical risk, according to Prestige Economics LLC.
“Gold is going higher here,” Jason Schenker, president and founder of the Austin, Texas-based firm, said in a Bloomberg TV interview Monday. “We see a gradually weakening dollar on trend. Although we expect two more rate hikes this year -- September, December -- and four rate hikes next year, what we also think is that a lot of that’s priced in.”