Thursday, October 10, 2013
Safe Haven Demand Still In The Cards For Gold - "Tech Speaking" w/Jim Wyckoff
Kitco News speaks with Jim Wyckoff about the government shutdown, the upcoming FOMC meeting minutes release and gold prices on this edition of "Technically Speaking." According to Wyckoff, the sense of the marketplace right now is that the US government will come to a budget agreement and raise the debt ceiling. "However, if that does not happen, then I think you will see strong safe haven demand pour into the gold market," he adds. In 2011, Standard's & Poor downgraded the credit rating of US government bonds for the first time in the country's history following their decision to increase the debt ceiling. If the government misses a debt obligation, this may be a possibility, Wyckoff says. Watch now to get Wyckoff's market ratings for gold & silver as well as key support and resistance levels. Kitco News, October 9, 2013.
Labels: Jim Wyckoff