Veteran trader sees rally, rate cuts pushing gold to $4k within a year
Description
Dana Samuelson, president of American Gold Exchange — a former president of the Professional Numismatists Guild — sees "a meaningful rally in gold" coming once the Federal Reserve makes multiple rate cuts, but adds that turmoil over Fed leadership and concerns that government data could be compromised or less transparent would build "a better bed from gold to rise from." Samuelson said he expects gold to be in the $3,900 to $4,200 per ounce range within a year, and that his forecast might be conservative if there is any sort of global debt problem or currency collapse.
Kimberly Flynn, president at XA Investments, discusses the recent executive order signed by President Trump that allows a dramatic expansion of alternative assets to be part of 401(k) and other retirement plans. While headlines have made it seem like crypto bros will blow up their retirement plans with alternatives, Flynn discusses how firms running life-cycle and target-date funds may decide to make allocations to alternative asset classes, exposing everyday investors to alternatives, but in safer ways than most industry watchers are imagining.
Jay Hatfield, chief executive officer for Infrastructure Capital Advisors, brings his macro-first approach to the Market Call, noting that rate cuts should be "tremendously positive for the market" and are keeping him bullish even as the market enters September, a seasonally weak time for stocks.
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