Putting Gold on the Bench

Published on
January 15th, 2019
13 minutes

Putting Gold on the Bench

Trade Ideas ·
Featuring Michael Purves

Published on: January 15th, 2019 • Duration: 13 minutes

Michael Purves, chief global strategist at Weeden & Co., reexamines his gold trade from mid-December and forecasts the metal's movement for 2019. He discusses how monetary and fiscal policies in Europe and the U.S. will impact the metal's next move, in this interview with Justine Underhill. Filmed on January 11, 2019.


  • EN
    Eric N.
    18 January 2019 @ 20:41
    I wasn't able identify a red line in his story.
  • BC
    Burton C.
    17 January 2019 @ 13:51
    Never really said anything. Plus all from USD perspective. BTW gold in AUD is at ATH
  • SP
    Stephane P.
    17 January 2019 @ 03:42
    I disagree with this guy on everything.
  • MP
    Mate P.
    15 January 2019 @ 10:19
    Thanks for the follow-up Michael! I don't agree with the reasoning on ECB policy though, I don't see the ECB hiking or exiting QE anytime soon. Don't count on this as a good indicator as the sample size is obviously laughable, but more and more EU investors and family offices I spoke with recently, rotated some of their cash positions into CHF. We've all seen this before and I remember what happened every time. I've learned to be cautious with the euro when the chf topic starts popping up as a "rational investment". There's just way too much uncertainty in Europe right now and my feeling is that US based investors do not fully understand this.
    • DR
      David R.
      15 January 2019 @ 21:05
      Even with the 1% negative interest rate on CHF deposits that Swiss banks typically now charge (foreign) clients? Also says a lot about what they think of US if they'd rather hold CHF yielding -1% than USD yielding 2-3%.
    • CM
      C M.
      16 January 2019 @ 04:32
      Thanks for sharing this insight.
    • MP
      Mate P.
      16 January 2019 @ 10:43
      Well David, it's mostly negotiable. Not all banks pass it on to the customer, and bigger clients are certainly charged way less than 1%. Then again, everything is negotiable in Switzerland - even your tax rates. I guess it's a different story with CHF positions held in EU banks.
  • RS
    Roger S.
    16 January 2019 @ 03:57
    He was right with his option trade but because it was a short dated option he didn't make any money. So why wouldn't you always enter a longer term option it the first place. If you look at the pricing between short 3 week and say 2 or 3 month it is not that much different.
  • SS
    Steven S.
    16 January 2019 @ 01:08
    ๐Ÿ” ๐Ÿ” ๐Ÿ” ๐Ÿ”CHICKENHAWK๐Ÿ” ๐Ÿ” ๐Ÿ” ๐Ÿ”
  • FB
    Floyd B.
    15 January 2019 @ 23:02
    Justine is a real trooper as she followed what I think was the most disjointed and boring presentation I have ever seen on RV. Sorry but this was of little use .
  • sT
    sid T.
    15 January 2019 @ 21:47
    Michael P is one of my favourites on RV. And I think the hardest recommendation to make (and to follow) is to wait. But I keep Mark Sptiznagels words in mind. You are being patient so you can be tactically impatient later. I am still invested in GLD though. I am thinking of holding on to it, as I am keeping my powder dry. Thanks again Michael. Your TLT call of last year was a real winner. And thanks RV. Please keep bringing Michael back.
  • KA
    Koka A.
    15 January 2019 @ 13:41
    Agree on bullish view on Gold, but think that better play is through Silver. Just have a look at Gold to Silver ration sitting at 25 year highs.