Gold could head as high as $3,400, VanEck CEO says as metal pulls back from records (via ETFEdgeCNBC)
"There are other stagflationary periods over time where gold has done really, really well," he said in the same "ETF Edge" interview."It's not just central banks. It's not just individual investors like us. Jewelry demand continues to be strong in emerging market countries," he said. "That's also supporting the price, and ultimately, it's getting more and more expensive to get an ounce of gold out of the ground.
Ritholtz Wealth Management's Ben Carlson said another major index can serve as an indicator for the metal.continues to fall, it could juice gold," Carlson, his firm's director of institutional asset management and the author of "A Wealth of Common Sense," said in the same "ETF Edge" interview. Carlson's research showed that in the last 50 years, the dollar rose on an annual basis roughly half the time. In years when the U.S. currency climbed, gold's average annual return was about a 1% loss. In years when it fell, gold's return was around 18%.
"So ... you check real interest rates and inflation and all these things, but gold is actually a really good hedge against the
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