Gold price is ready for 'substantial' move as inflation gets worse, war looms in Europe - Gary Wagner

Tensions in Eastern Europe, as well as inflation that is unlikely to dissipate soon, are forces that will push gold to move "substantially", said Gary Wagner, editor of TheGoldForecast.com.

Importantly, if war does break out, a sustained geopolitical crisis would push both the U.S. dollar and gold up together, Wagner told David Lin, anchor for Kitco News.

"We had multiple days in the last couple of weeks in which we saw safe-haven plays into the dollar and gold concurrently. So while it would pressure gold, it would hold back the rise but [would not] necessarily be so strong that gold moves gold with that adversity," he said. "I think that dollar strength and gold can move in tandem during that kind of a conflict, in the same way, that U.S. equities and gold move in tandem when you have a highly accommodative Federal Reserve." Read More

Source: Kitco.com

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