While the price of gold and its next direction continue to be wondered by many investors, expert names do not hesitate to share their comments on the market. cryptocoin.com We share the last comments of 2 experts…
Comment from Todd Horwitz on gold price and Fed chairman
Todd “Bubba” Horwitz of BubbaTrading.com said that Jerome Powell’s reappointment as Fed Chairman means moving away from more radical, progressive monetary policies that would have caused gold to rise simultaneously and spell disaster for the world economy. Horwitx said in a statement that progressive policies like Modern Monetary Theory would be “much better for gold but terrible for the world economy.” He also says, “They will turn the US into a socialist country or a communist country and be under the rule of someone like China.”
On the other hand, Yamana Gold’s chairman of the board, Peter Marrone, said that tech giants dwarf mining giants, but this can also benefit investors. The largest gold miner, Newmont, has a market capitalization of $44 billion, compared to Apple’s $2.57 trillion valuation. Tech companies are also attracting more investors. The Nasdaq Composite is up 22 percent to date. The VanEck Junior Gold Miners ETF fell by almost the same amount over the same period. Marrone thinks the gold industry should be given time and says “the gaps need to be filled”. At the time of writing, the price of gold is changing hands at $1,798, up 0.3 percent.
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