Gold price meltdown? 'I'm not selling in front of the crash' says Lobo Tiggre

Gold price meltdown? ‘I’m not selling in front of the crash’ says Lobo Tiggre

Fears of a vaccine pushing the gold price down are overplayed, said Lobo Tiggre of the Independent Speculator.

“I think this is another one of these overblown things. Yes, we have seen gold move on vaccine headlines, I don’t deny that, but it’s a mistake to think that 2020 gold is all about the vaccine,” Tiggre told Kitco News.

The most important fundamental drivers of gold are still tied to monetary and fiscal policies, Tiggre said.

“We have been on a volatile upward trend since late 2015, well before COVID. But even the more recent and dramatic upturn started after the Powell pivot. This is really about monetary and fiscal policy, starting, first and foremost with monetary policy. It’s about negative real rates,” he said.Even if a vaccine were to be introduced, it would still take time for the economy to normalize, Tiggre noted, and the fundamentals behind the gold price would […]

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