Price of Gold: 3 Key Drivers

Miguel Perez-Santalla

Bullion Vault

Published : March 16th, 2014

364 words - Reading time : 0 - 1 minutes

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Category : Market Analysis


	Gold options and commodities trader Andy Hecht joins New York Markets Live... The PRICE of GOLD continues on its 2014 tear, rallying more than 13% from the 3-year low hit again on New Year's Eve. Andy Hecht, options and commodities trader, joined me this week on New York Markets Live. Andy cited three reasons why the price of gold is surging in 2014... Current Finance Podcasts at Blog Talk Radio with New York Markets Live on BlogTalkRadio Andy Hecht is the author of How to Make Money with Commodities, and has nearly 35 years experience as a trader on Wall Street, including two decades on the trading desk of Phillip Brothers, which became Salomon Brothers and ultimately part of Citigroup. A contributor to Traders Magazine, Andy has lectured at colleges and universities. His biweekly radio show, The Commodities Hour with Andy Hecht, can be heard on Tuesdays and Thursdays from 3-4pm EST on www.tfnn.com. Discussing the price of gold with me this week, Andy sees these key drivers... Good physical demand from places like China and Asia and places with no convertible currency. A decent bearish sentiment about gold with high profile analysts calling for much lower gold prices. Open interest in gold dropped dramatically. Ukrainian geopolitical tension, problems in China with talk of bankruptcy. Gold is fungible and can be traded in different currencies. Among the other topics discussed, Andy and I look at the role that the Comex gold futures market, as well as central banks, now play in the availability and price of gold. We also talk about the purpose of the London Gold Fix and how it correlates to spot and futures gold prices. Andy Hecht stressesthe need for transparency and efficiency in the world's gold markets. "Commodities play a role in everybody’s lives and have an impact on almost every investment," said Hecht. "If you’re investing in an airline you’re greatly impacted by the price of jet fuel, which is tied to oil. Stocks, bonds, ETFs are impacted by commodities." Finally, we also talked about the silver to gold ratio in terms of the market, availability, and price correlation. Hear the full show now at New York Markets Live.

Data and Statistics for these countries : China | All

Gold and Silver Prices for these countries : China | All

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Miguel Perez-Santalla 13 abonnés

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Miguel Perez-Santalla is vice president of business development for BullionVault, the physical gold and silver exchange founded a decade ago and now the world's #1 provider of physical bullion ownership online. A fierce advocate for retail investors, and a regular speaker at industry and media events, Miguel has over 30 years' experience in the precious metals business, previously working at the United States' top coin dealerships, as well as international refining group Heraeus.

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