Tim Hayes, chief global investment strategist for Ned Davis Research, said in a recent interview with Kitco News that gold is struggling in the near term as markets brace for a shift in U.S.
“Despite this talk, real yields are going to remain in negative territory.
dollar is seeing some near-term momentum, Hayes noted that it is well off its all-time highs.
Hayes noted that in May 2020, his research at Ned Davis generated a long-term sell signal for the U.S.
Although Hayes said that he is not expecting inflation to rise as sharply as it did in the 1970s, consumers can expect to see consistently higher price pressures.
“Once the inflation genie is out of the bottle, it’s impossible to get it back in,” he said.
Because the overall environment isn’t changing anytime soon, Hayes said that it wouldn’t take much for investors to see value in gold again.
As for his outlook on the current gold price, Hayes said that the recent selloff presented a tactical buying opportunity for investors.