Watch out for this 'anomaly' when buying precious metals like gold, investor warns $GLD $IAU $GDX (via ETFEdgeCNBC)
While now might seem like a good time to buy gold, with gold ETFs seeing more than $500 million in outflows in the first few weeks of 2020 as enthusiasm around the typically risk-averse yellow metal cooled, industry pros say investors should be careful where they tread.
That's because one corner of the precious metals market tends to see outsized swings relative to the metals themselves, Steve Grasso, managing director of institutional sales at Stuart Frankel, said Monday on CNBC's"Gold miners always outperform about two to three times whatever the underlying commodity does, and that's both up and down," Grasso said. "So, if gold underperforms and trades down, the gold miners are going to go down about two to three times more.
But with gold likely to resume its momentum from late last year — when the precious metal climbed more than 6% in less than two months — the appetite won't completely fade, particularly as the global middle class grows and uses newfound earnings to buy gold, Tom Lydon, CEO of ETF Trends, said in the same "ETF Edge" interview.
"There's been a little bit less love, but that doesn't mean we can't respect what's happened with gold," he said, pointing to the action in the
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
How to Watch the 2020 Academy Awards nominations via live streamThe Academy of Motion Picture Arts and Sciences will announce the top contenders for the 92nd annual Oscars on Monday.
Baca lebih lajut »
13 TV Shows You Must Watch in 2020Here are 13 of the shows that should be on your radar in the new year, from returning faves like Outlander and Schitt’s Creek to new offerings from the teams behind Downton Abbey and Big Little Lies.
Baca lebih lajut »
How to watch 2020 Critics' Choice Awards: Time, live stream and moreTwo actors will be honored: Eddie Murphy and Kristen Bell.
Baca lebih lajut »
How to Watch the 2020 Critics' Choice Awards on TV and OnlineTaye Diggs returns as the host for the 2020 Critics' Choice Awards, which takes place tonight and airs live on The CW at 7 p.m. Find out more details here!
Baca lebih lajut »
When and how to watch Impact Wrestling's Hard to KillThere are eight matches scheduled for Sunday in Impact Wrestling's Hard to Kill. Learn all there is to know about the 2020 pay-per-view including its card and start time.
Baca lebih lajut »