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12.12.18 - BofA: Gold To Hit $1,400 In 2019

Gold last traded at $1,250 an ounce. Silver at $14.85 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on safe haven buying and a weaker dollar. U.S. stocks traded higher as investors digested upbeat news related to the ongoing trade war between the United States and China.

 

 

 

BofA: Gold To Hit $1,400 In 2019

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gold is money 2020767 640Look For Gold To Hit $1,400 In 2019 -BoAML/Kitco
"Investors looking for a commodity to be bullish on in 2019 should look at gold, according to the latest research from analysts at Bank of American Merrill Lynch (BoAML), which is overweight the precious metal. In a teleconference presentation last week, Michael Widmer, metals strategist at the bank, said that a weaker U.S. dollar, rising inflation and low real interest rates will drive gold prices higher next year. In its year-end outlook, the bank sees gold prices averaging the year around $1,296 an ounce with prices rising as high as $1,400 an ounce during the year....

The Untold Story of 2008 Crisis

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Bernanke: U.S. has no system in place to deal with another financial meltdown -CBS News
"Wild swings in the stock market are fueling concerns over a potential new economic slowdown....It's been a decade since the last major economic crisis, when about 8.7 million Americans lost their jobs and some of the world's biggest banks collapsed. The men who worked behind closed doors in 2008 to stave off another Great Depression (they're nicknamed the "Three Amigos") are featured in a new documentary from HBO and Vice,"Panic: The Untold Story of the 2008 Financial Crisis.

Yellen Warns of Financial Crisis

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financial crisis 544944 640Yellen warns of another potential financial crisis: 'Gigantic holes in the system' -CNBC
"Former Federal Reserve Chair Janet Yellen told a New York audience she fears there could be another financial crisis....'I think things have improved, but then I think there are gigantic holes in the system,' Yellen said Monday night in a discussion moderated by New York Times columnist Paul Krugman at CUNY.

Birds of a Feather Plucked Together

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bull 1885566 640"Birds Of A Feather Get Plucked Together..." -Zero Hedge
"The important question now: 'Is the current uptick in correlations another sign of an impending bear market/recession, already signaled by faltering asset prices?'....We would offer up 3 points about rising correlations that are relevant regardless of market direction: #1. Higher correlations drive market volatility. When sectors move in closer lock step, diversification does less to limit daily price swings for the S&P....#2. Correlation tends to be 'sticky' absent an overwhelming catalyst.

Slower Fed Rate Hikes May Buoy Gold

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GoldGold buoyed by prospects of slower Fed hikes -Marketwatch
"Gold edged higher Tuesday...as investors scaled back expectations about the pace of future interest-rate increases by the U.S. Federal Reserve. 'Gold prices, a barometer of economic and political news, are awaiting [the] Fed meeting Dec. 18-19 on rate hikes, which could have more dovish language and cautious approach to future hikes,' said George Gero, managing director in the senior consulting group at RBC Wealth Management.