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How far can gold prices go? We ask a market veteran
  + stars: | 2024-07-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow far can gold prices go? We ask a market veteranJuerg Kiener, managing director and chief investment officer of Swiss Asia Capital, discusses whether the gold rally can be sustained.
Persons: Juerg Kiener Organizations: Swiss Asia Capital
The precious metal has hit successive record highs this year, including another on Thursday when spot gold broke above $2,300 before easing slightly. Juerg Kiener, chief investment officer at Swiss Asia Capital, told CNBC's "Street Signs Asia" on Wednesday that his forward curve analysis for gold "looks fantastic." "If you look at your forward curve for a year it's about 26 [$2,600]. He added that an inventory collapse in the gold market is putting "a lot of derivative structures at risk." Kiener also cited geopolitics, a shift to a "multipolar world," and changing international trade structures as reasons for his bullishness on the gold price.
Persons: Kiener, CNBC's, , We've Organizations: Swiss Asia Capital, U.S . Federal Locations: Gaza, Ukraine, Asia
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect to see a 'massive move' in silver, says asset management firmJuerg Kiener of Swiss Asia Capital says silver is trading "historically [at] such a beaten down level."
Gold prices could surge to $4,000 per ounce in 2023 as interest rate hikes and recession fears keep markets volatile, said Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital. There is a good chance the gold market sees a major move, he said, adding "it's not going to be just 10% or 20%," but a move that will "really make new highs." According to the World Gold Council, central banks bought 400 tonnes of gold in the third quarter, almost doubling the previous record of 241 tonnes during the same period in 2018. Kiener also said investors would look to gold with inflation remaining high in many parts of the world. "Gold is a very good inflation hedge, a great catch during stagflation and a great add onto a portfolio."
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVery good chance of a 'major move' making new highs in gold market next year: Asset management firmJuerg Kiener of Swiss Asia Capital discusses the similarities between the current gold market and the markets of 2001 and 2008.
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