Gold News: Will Bullishness Diminish This Week?

international gold
Written by Mike Hammer

It seems like every day this year another investment manager comes out as bullish on gold for 2019.  Today it’s BlackRock’s Global Allocation Fund manager who indicated he has been increasing his fund’s gold allocation since the third quarter. Unlike some others, Russ Koesterich does not give a target price for gold in 2019, rather indicating gold is playing a hedging role in his portfolio plans.

So far that seems to be a good plan, as gold rose while equity markets fell in Q4. Gold calls backed off from 8-month highs this morning, so we’ll see if bullishness diminishes this week. Today’s featured article gives some details as to why Koesterich thinks gold deserves a bigger place in his portfolio – reasons which may sound all too familiar.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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