Gold looks good as the Fed will Pivot on Interest rates after the summer - Sprott's John Hathaway kitconews gold silver metals economics mining finance investing
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Hathaway's bullish outlook on gold comes as markets look for the Federal Reserve to raise interest rates by 75 basis points on Wednesday. Hathaway said one of the reasons why he is bullish on gold is because the U.S. central bank is closer to the end of its tightening cycle than it is to the beginning.
Hathaway said that he would expect the central bank to start to pivot and slow the pace of rate hikes by the end of the summer. He added that the central bank will not want to push the economy into a recession ahead of the November election. Along with the growing recession threat in the U.S., Hathaway said that he also sees signs of a potential sovereign debt crisis in Europe. Last week the European Central Bank surprised markets with a 50-basis point hike. The ECB also announced that it would continue to buy bonds from troubled nations to ensure the European bond market doesn't fragment.
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