Gold may continue to shine as Central Banks bring in more QE

UNITED STATES January 28 2016 4:13 PM

NEW YORK (Scrap Register): Looking at current market conditions with struggling global equities and oil prices, one longtime trend forecaster said gold will continue to shine. 

As the global economy continues to limp along, editor of The Trends Journal Gerald Celente said central bankers will look to more easing, even if it isn’t the best solution. 

“More quantitative easing is a cheap money-pumping scheme that will, at best, temporarily re-inflate failing equity markets and do nothing to reverse the deepening Global Recession trend,” Celente said in a research note. 

“Thus, gold will be treasured as a safe-haven commodity in a climate of central-bank currency destruction and socioeconomic and geopolitical turmoil,” Celente noted. 

Celente’s comments came out just ahead of the Federal Reserve’s first meeting of the year.