Citi global strategists say to buy the dip in gold but not stocks

MarketWatch/Steve Goldstein

graphic image of a green buy button on a laptop computer“A political process that cannot accurately ascertain its leader, parties refusing to accept results and potential social disorder, all damage credibility and lower the confidence of investors, especially in light of everything else happening in the background. Challenge to the rule of law would lead to a reassessment of historically ‘safe’ U.S. assets (including U.S. Treasurys and the U.S. dollar) even if only temporary.” – Citibank’s global asset allocation team

USAGOLD note:  It makes sense that Citi, as the headline above indicates, would follow such an assessment with advice to add gold to one’s holdings on the dips.  It is taking its own advice. According to this Marketwatch report, the bank is “buying the dip in gold with a $2200 target.”

Repost from 9-25-2020

This entry was posted in Gold and Silver Price Predictions from Prominent Players, Today's top gold news and opinion. Bookmark the permalink.