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14 hours ago
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"I think that that general feel from central bank buying to what is going on with currencies, US dollar the way it is, and certainly from an interest rate perspective the overall momentum is going to be continued. Retail are all over it and the man and woman on the street are certainly enjoying it not just in India, but around certainly Asia and the appetite is not waning. So, yes, it is best days are ahead of it and I will continue to be bullish on the call," says Peter McGuire, CEO, Australia, Trading.com.
So far it is turning out to be a good patch for equities, commodities, and for global bond markets. Will this Goldilocks scenario continue?
Peter McGuire: Well, in a lot of ways, yes, and I will say why. OPEC plus over the weekend took quite extraordinary step to up their production output from 411 to 548 and that is going to really create that glut that everyone is concerned or conscious of going into the August time frame and then leading into naturally Q4. So, a very good time for consumers, not that great for producers and it is a race to the bottom as far as price.
When we spoke last time, you said buy, buy, buy, buy a lot of gold. Is it still buy, buy, buy, and buy a lot of gold?
Peter McGuire: I think so. I think absolutely. 3320, 3340, yes. It is very affordable. From a couple of points moving forward and I am saying that is going to be a long-term hold to see the decade out, that the momentum at the moment, it is had incredible uplift as we all know over the last 18 months or so, approaching two years.
And I think that that general feel from central bank buying to what is going on with currencies, US dollar the way it is, and certainly from an interest rate perspective the overall momentum is going to be continued. Retail are all over it and the man and woman on the street are certainly enjoying it not just in India, but around certainly Asia and the appetite is not waning. So, yes, it is best days are ahead of it and I will continue to be bullish on the call.
English (US) ·