Gold Is an Investor’s Paradise (NYSEARCA:GLD, NYSEARCA:VXX)
With so much attention being given to the record highs being set in the stock market, not to mention the jitters that accompany that, it only seems fitting that other asset classes might currently be worth a look. In fact, aside from the 30% drubbing that has been unique to Volatility (^VIX) lately, Gold stands almost alone in terms of its conspicuous under-performance, and that suits Bill Baruch, market strategist at iiTrader just perfectly.
“Right now, this is an investor’s paradise for gold,” the Chicago-based trader says in the attached video. “We haven’t seen gold below $1500 since 2011, and right now we’re pressing the lows on the year and I think it’s a great buying opportunity.”
To be more precise, this precious metal and previous reserve currency is within 3% of its 52-week low of $1535, which leaves it about 13% below its 52-week high of $1800. While Baruch admits “the slow grind higher for stocks” has diminished a lot of the luster of gold, he also believes that’s a trend that can, and will, reverse quickly.
You can see the full “Breakout” interview below:
Related: SPDR Gold Trust (NYSEARCA:GLD), iPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX)