10.15.19 - Retail Investors to Extend Gold's Rally

Gold last traded at $1,483 an ounce. Silver at $17.38 an ounce.

NEWS SUMMARY: Precious metal prices consolidated Tuesday amid tempered risk aversion. U.S. stocks rose as the corporate earnings season got off to a strong start.

 

 

 

UBS Doubles Down On Gold - Ups Forecast Again!

graph 163509 640UBS Doubles Down On Gold - Ups Its Forecast Again! -Constable/Forbes
"The usually-conservative Swiss bank UBS has upped its forecast for the price of gold for the second time in less than two months. Now it says the price for the yellow metal could reach as high as $1,730 a troy ounce next year, up $50 from an August forecast, a recent UBS report states. The note last month pointed to the possibility of $1,680 over the same timeframe. If gold did soar that far it would be 17% above the recent price.

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Democrats' Tax Wealth Would Reshape Economy

maxpixelnet Statistics Business Economy Arrows Trend Finance 2899906Democrats' Plans to Tax Wealth Would Reshape U.S. Economy -New York Times
"Proposals from Elizabeth Warren and Bernie Sanders have raised concerns from economists and business leaders who fear the plans would sap economic growth. Progressive Democrats are advocating the most drastic shift in tax policy in over a century as they look to redistribute wealth and chip away at the economic power of the superrich with new taxes that could fundamentally reshape the United States economy. As they compete for the Democratic presidential nomination, Senators Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont have proposed wealth taxes that would shrink the fortunes of the richest Americans.

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Buffett's Deception On Gold - Forbes

Gold DeceptionBuffett's Deception On Gold -Dohman/Forbes
"Warren Buffett is not a fan of gold....Let's see what gold has done since 2001 when I gave a renewed long-term 'buy' signal...Gold plunged to about $250 by year 2001. At that time, no one even wanted to hear the word 'gold.' Bearish sentiment was at extreme highs. As you can see in this chart, gold far outperformed the S&P 500 since 2001. Buffett uses arbitrary dates, similar to many stock analysts who want to make a point against gold. They pick the dates that give them the results they want....

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