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Higher Gold Prices On Global Trade Slowdown – HSBC

Executive & Research Director @ GoldCore
October 19, 2016

HSBC’s respected chief precious metals analyst James Steel has written a note pointing out that the global trade slowdown will likely lead to “higher gold prices” as reported by Bloomberg.

Analysts at HSBC Group Inc. are telling clients that gold may be about to have another shining moment, as the precious metal’s status as a safe haven asset could boost prices, given the prospect of a looming downward shift in globalization.

The firm’s Chief Precious Metals Analyst James Steel says in a note published on Friday that “demand for gold is often stimulated by the same factors that fan protectionist and populist sentiment” and that “abrupt declines in cross border trade, investment and immigration, the dislocation of global economic policies, and a beggar-thy-neighbor approach to trade is almost tailor-made for higher gold prices.”

Previously, Steel advocated owning gold as a “long term insurance policy”.

When asked about whether he has a “message for gold bugs … people who have Krugerrands in their dressing room drawer”, Steel spoke of gold’s portfolio insurance benefits and “the diversification argument is the most powerful … it is an insurance policy”.

See the full article on Bloomberg here

Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 


With gold stolen by Conquistador Francisco Pizarro from the Inca Empire in 1532, Spain financed its conquest of Europe.
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