Gerald Celente Issues Trend Forecast For Gold As Global Economy Falters
KingWorldNews.com
March 30, 2016
With the U.S. dollar continuing to struggle, today the top trends forecaster in the world issued a trend forecast for gold as the global economy falters.
Gerald Celente: For several days, gold prices fell on hawkish comments from a number of regional Federal Reserve Bank presidents signaling support for an interest-rate rise, pointing to a possible increase at the upcoming Federal Open Market Committee meeting in late April. They reasoned, as has President Obama and the establishment business media, that anyone questioning the strength of the US economy was “peddling fiction,” and that a Fed rate hike, the second since 2006, was in order…
Gerald Celente continues: Subsequently, a strong dollar and higher interest rates were bearish news for gold since the great criticism from the financial world has long been that gold yields no interest. Thus, with US interest rates expected to rise, it was more profitable to be in dollars than gold.
Speaking at the Economic Club of New York Tuesday, Federal Reserve Chairwoman Janet Yellen not only tamped down expectations for a rate rise in April, but whether, in fact, there will be any interest-rate increase for the rest of the year. Indeed, when the Fed ended the zero interest-rate policy it had in place since 2008 when it raised rates just 25 basis points in December 2015, it left The Street with the impression that four more rate hikes would follow throughout the new year.
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