Seems gold just can’t catch a break these days. Even after several weeks of reports saying this is the bottom for gold, trading markets are still stuck in low gear. And sometimes reverse – this morning’s early trading shows gold falling below 1200 USD/oz again. But wait – The British Are Coming!
The CFA UK (which we think stands for Certified Financial Advisors of the United Kingdom, but apparently it’s a secret) recently polled their members, finding a consensus opinion that gold was undervalued and a good investment at present levels. According to their internal Valuations Index, gold is a better value now than at any time since 2012Q1 when the index began.
Now that’s cheap. Of course, we know that doesn’t mean gold is going to jump up today, but it does mean it’s probably not a bad time to tuck some away if you haven’t already. On the American side of the Pond, State Street bank opined that gold is likely to climb back up to 1350 USD/oz by the end of 2018, a bet they’ll probably have a hard time finding takers for. But well worth mentioning, just in case.
You can read all about the CFA UK survey in today’s featured article, which is very well written especially if done by a dry financial wonk. (just kidding)