The stock market's rally may be putting pressure on gold prices, but one commodity watcher says it could be welcome relief for investors looking to buy into the precious metal.
div > div.group > p:first-child"> While gold prices had a strong start to the year, mounting an impressive February rally, they have erased most of those gains, now up less than 1 percent for 2019 versus the S&P 500's 12 percent rise.
"You've had a bit of a V-shaped recovery in the market, but [with] gold prices selling off, this could well be a buying opportunity for gold at this point," said Rhind, whose company offers a low-fee, gold-tracking exchange-traded fund called the GraniteShares Gold Trust. Rhind suggested that investors who want to take advantage of a potential global slowdown — the likes of which typically sends gold prices soaring as market watchers look to hedge against big losses — consider funds like his, which brands itself as"The Low-Cost Gold ETF."
And with demand for gold picking up in places like China, where inflation is driving investors toward the historically safe yellow metal, and huge mergers by gold companies centralizing the supply, prices might not stay low for long, Rhind warned.
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