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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.

 

 

 

Gold Rush Is Just Getting Started

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gold 295936 640Gold Is Just Getting Started -Scotiabank/Kitco
"Analysts at Scotiabank said that they see further potential for the yellow metal as the bank sees a wave of risk-off sentiment sweep through financial markets and inflation pressures rise, according to its November Metals Matters precious metals report. 'Economic data has generally been showing weakness, including some U.S. data, and economic bellwethers such as the base metals have remained under pressure as the U.S. trade disputes have dragged on,' the analysts said.

2018 Stock Market Gains Vanish

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BearMarketStock-market gains for 2018 vanish -Marketwatch
"U.S. stocks fell sharply at the start of trade Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies. Sharp declines in Target and Lowe’s after disappointing earnings also contributed to the tone. U.S. financial markets will be closed Thursday for the Thanksgiving Day holiday and will be see an early close on Friday. U.S. investors continue to be plagued by doubts surrounding slowing global growth, U.S.-China trade relations, and the steady rise in interest rates that can be expected to continue into next year.

Goldman: "Lift Cash Allocations"

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bank note 941246 640Goldman Tells Investors "It's Time To Lift Cash Allocations" -Zero Hedge
"It's been difficult year for Goldman's chief equity strategist David Kostin....You have such gloomy analysts as Peter Oppenheimer who two weeks ago said that 'things do not look encouraging' as various market signals suggest that 'equities could be about to enter a sustained bear market.'....

'FAANG' Stocks Enter Bear Market

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stock exchange 3087396 640Investors' favorite trade is officially dead as each member of tech's 'FAANG' is in a bear market -CNBC
"Each of the five 'FAANG' stocks slipped into a bear market during Monday trading. The FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – have fallen steadily over the last 6 weeks as the companies delivered disappointing earnings and mixed forecasts.

The Gold Standard Did Not Disappear

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gold is money 2538120 640The Gold Standard Didn't Disappear In 1971, It Just Went Underground -Lewis/Forbes
"Officially, the gold standard is regarded as superstitious nonsense, especially by academics. The fact that it worked very well for centuries, produced results that nobody seems able to achieve today. But unofficially, gold was not only the basis of the global monetary system for centuries until 1971, it has been - in rough form - the basis of the global monetary system for most of the time since 1971 also. Humans apparently cannot live without it, even if they want to....