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“Buying gold has never been easier and more accessible.”While gold, typically invested in as a hedge against inflation, has shined this year, there are plenty of things to know before investors join the gold rush. How do you actually go about buying gold? Another consideration when buying gold in the retail market is how the sticker price of the bullion compares to the spot price of gold. But Cavatoni advises having a “round-trip mentality” when purchasing physical gold, emphasizing the importance of the selling stage as much as the purchase process. On the other hand, gold-backed ETFs free consumers from the considerations that need to be made when purchasing physical gold.
Persons: , Joseph Cavatoni, , Cavatoni, “ It’s, ” Cavatoni, prudently Organizations: CNN, Costco, World Gold, of Labor Statistics Locations: China, India, Turkey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a 'really exciting moment' for gold, says World Gold Council strategistJoseph Cavatoni, North America market strategist at the World Gold Council, discusses what's behind the gold rally and recent record highs.
Persons: Joseph Cavatoni Organizations: Gold, World Gold Locations: North America
Gold prices extended their rally and scaled to another record high on Monday, propelled by U.S. interest rate cut expectations and the metal's appeal as a safe haven asset. "I think it's a really exciting moment in gold," said Joseph Cavatoni, market strategist at the World Gold Council told CNBC on Monday. "What's really driving it is, I think, many market speculators really getting that confidence and comfort [in] the Fed cuts," he said. The key Fed inflation gauge for February climbed 2.8% year-on-year, according to data released last Friday — likely to keep the U.S. central bank on hold before it can start considering interest rate cuts. The Fed stood pat on interest rates at the conclusion of its recent March meeting, but stuck with its forecast for three interest rate cuts this year.
Persons: Joseph Cavatoni Organizations: World Gold Council, CNBC, U.S . Federal Reserve, Fed Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRate cuts are a good environment for gold investment, says World Gold Council's Joe CavatoniJoe Cavatoni, World Gold Council Market Strategist, joins 'Closing Bell: Overtime' to discuss gold as the commodithy nears all time highs.
Persons: Joe Cavatoni Joe Cavatoni Organizations: Market
[1/2] Gold bars are displayed during a photo opportunity at the Ginza Tanaka store in Tokyo September 7, 2009. HSBC had been the sole custodian for SPDR Gold Trust, also known as GLD, since it launched in 2004. The bank currently stores about 910 tonnes of gold for GLD in London -- around a quarter of all the gold held for ETFs globally. Cavatoni said the WGC's agreement with JPMorgan allowed it to store gold in the United States and Switzerland but for the time the fund intended continue storing all its gold in London. HSBC said: "We're pleased to continue acting as a custodian for the World Gold Council's SPDR Gold Trust."
Bitcoin prices are currently hovering around $16,500, down from a level of $20,000 just a week ago. Gold, like bitcoin, then surged in the latter part of 2020 as a sort of safe haven trade. Why buy gold or digital assets when the greenback is proving to be the king of currencies? Bitcoin prices have been notoriously volatile over the past few years, but they have still done better than many major stock market indexes. One venture capitalist who focuses on bitcoin and crypto assets agreed that FTX’s problems won’t derail the entire digital assets universe.
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