HSBC precious metal analyst on how much further gold can rally

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  • Published on Aug 16, 2019
  • Jim Steel, chief precious metals analyst at HSBC, joins CNBC's "Closing Bell" to discuss how much further gold can rally and what it will take to keep it going.

Comments • 23

  • ezgold4u
    ezgold4u 26 days ago

    And SILVER.

  • Robin Murray
    Robin Murray 26 days ago +1

    we are 100% in miners triple ETFs doing GREAT! barchart.com/quotes/JNUG

  • Sanjay Bakshi
    Sanjay Bakshi Month ago +1

    Keep buying gold

  • William Wilson
    William Wilson Month ago +1

    HSBC talking gold...that's like a robber talking about banks.

  • S W
    S W Month ago

    But for now they can still go in and short gold

  • John Dunston
    John Dunston Month ago

    8% is nothing to sneeze at...short moves and Happy to have it.

  • R R
    R R Month ago +4

    AND fiat currencies are losing value.......

  • Jeff Walker
    Jeff Walker Month ago +2

    It would be interesting to see mainstream news talk about work skills like they do money....."And today in the HVAC market, hot weather has boosted the demand for Air conditioning tech workers; analysts report as much as 15000 homes in Miami alone out of AC this week and expected. RV technicians see a boost in demand as half the country are living in RV and parked at truck stops and various campgrounds. Analyst reports parking is real tight in the Midwest....chuck shumer has the story in Gary Indiana....going to you Chuck." (Chuck) "Yeah, holy shit Darlene, the freaking RVs are everywhere, brokdown half the time and Ammonia leaks plague the RV industry and technicians are scrambling to keep up the pace....back to you Darlene." (Darlene) "well in other news....financial reporters are not so much in demand any more people are looking at real indicators for their answers....like their paycheck stubbs and food prices and rent increases year over year. Back to you CNBC. :)

  • iwont answerback
    iwont answerback Month ago +2

    The more people pay attention to the world markets the more they realize they need to have money in gold and silver. Here's 2 questions to ask yourselves. Why have the central bank's been purchasing and hoarding gold in the last 5 years at a pace they never have before??? #2 why has jp Morgan been hoarding silver at an insane pace as well?? One reason. They know they can't continue to print money backed by nothing much longer. They know what's coming, I hope you all do 5 min of research and see I'm telling the truth and start covering your butts as well.

    • IHATE M
      IHATE M Month ago

      iwont answerback Politician logic: FIAT currency is money- everything else is credit

  • Oliver St.John
    Oliver St.John Month ago

    Btc gold silver

  • michael lilienfeld
    michael lilienfeld Month ago +3

    Buy bitcoin gold and silver

    • Adrian Segura
      Adrian Segura Month ago +2

      Fuck cryptos . They can track you and will eventually tax every transaction you make.

  • Doctor Poopypantz
    Doctor Poopypantz Month ago +2

    The more afraid people are, the more willing they are to take their money out of productive businesses and buy a commodity that doesn't produce anything and hope the next fool pays more for that commodity than they did, the more gold will go up.
    And silver and all the rest of it.

    • NuKKaSaM
      NuKKaSaM Month ago

      The same can be said for stocks. Just because a company makes money doesn't mean its share price has to appreciate. It still requires someone to pay more for the company than you did.

    • Doctor Poopypantz
      Doctor Poopypantz Month ago

      @iwont answerback Congratulations. You should go into crypto while you're at it. Just to really make sure you never make any money with your money.

    • iwont answerback
      iwont answerback Month ago +2

      Nice try. But we're not falling for it. Were smarter than in 2007 and were stacking silver and gold the same as the central banks

  • H Pn
    H Pn Month ago +6

    Buy silver it's cheaper.

    • Caleb Sims
      Caleb Sims Month ago +3

      the exact mentality why I'm buying. people generally buy the cheaper thing. say "precious metals to any commoner and the first thing the say " you mean gold and silver?" For me, it's the driving reason I think silver will have the most percentage gains than any precious metal.

    • Max Strong
      Max Strong Month ago +1

      @Adrian Segura I'm just having some fun, I stack Gold & Silver for a hedge against inflation and I stack copper pennies for fun 😎👍

    • Adrian Segura
      Adrian Segura Month ago +1

      @Max Strong : yea but silver has more uses than any commodities except oil .

    • dobson777a
      dobson777a Month ago +2

      @Max Strong sand is cheaper than copper.

    • Max Strong
      Max Strong Month ago

      Well copper is cheaper than silver and you can stack Pre 1982 Copper Pennies 😋