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| Name | Gold prices hit $2.1K as 'perfect storm' brews: Strategist |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 05-03-2024 13:36:39 |
| Video Discription | Prices of gold (GC=F) have soared, breaking the $2,100 mark as investors brace for potential rate cuts. Phillip Streible, Chief Market Strategist at Blue Line Futures, joins Yahoo Finance Live to share his perspective on why the precious metal could be an attractive investment. Streible says, "there is a perfect storm brewing in the gold market," with the commodity climbing $150 "above its February lows". He explains that in the event of looming regional bank failures, the Federal Reserve may "pull forward" anticipated rate cuts originally slated for May or June, providing a tailwind for gold to rally further. Streible highlights that the forthcoming jobs report on Friday will offer crucial insights into rate cut expectations and inflationary pressures. He suggests that a figure below 200K could "expedite the prospects of an interest rate cut," although he urges caution regarding "seasonal factors" that may influence job market data. Furthermore, Streible underscores an "underinvestment" in the gold market, presenting a favorable opportunity for investors. #youtube #Gold #stockmarket About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance |
| Category | News & Politics |
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