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It’s a mistake to link a more aggressive Federal Reserve with lower gold prices, said Christopher Ecclestone, principal and mining strategist at Hallgarten & Co, told Michelle Makori, lead anchor and Editor-in-Chief of Kitco News, on the sidelines of the Mines and Money London conference.
“Traditionally, gold has been a hedge against inflation. There is a mistaken view that higher interest rates would impact the price of gold because supposedly people are borrowing money to buy gold which is totally a bogus construct,” Ecclestone said. “Most people are using gold as a savings method.”
They also talked about how inflation impacts the price of gold. Hallgarten produces research on the natural resources sector.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
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