all tips

Gold investors should eye an even lower target from current levels, as there is currently no need for a flight to safety, said Todd “Bubba” Horwitz.

“I think soon there will be good news, but I think we’ve broken down and violated a lot of key levels, and I think really, the next real level that I’m going to want to step in, unless we rally sooner, is probably around $1,240 [an ounce],” Horwitz told Kitco News.

Horwitz said that investors have been complacent with precious metals lately.

“I think that too many people are making too big a deal out of these trade wars and that is causing [a selloff in gold], and keeping a pressure on the metals right now,” he said.
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The economy is showing signs of slower growth, and now is the right time to switch to a defensive portfolio stance, this according to Frank Holmes, CEO of U.S. Global Investors.

“Global PMIs have turned negative…and historically, that means the economy’s going to be weaker in exports in the next six months,” Holmes told Kitco News.

Holmes noted that gold is still an important asset to add to a defensive portfolio.

Quoting Ray Dalio, founder and co-chairman of Bridgewater Associates, Holmes said investors are at “risk” if they don’t own gold in their portfolio.

On his own personal strategy, Holmes adheres to the “golden” rule of keeping at least 10% of his portfolio in gold.
He added that in today’s environment short duration fixed income instruments, like short-term municipal bonds, are very attractive as defensive plays.

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Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

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