The Federal Reserve is no longer patient on interest rates and ready to do what it can to support the U.S. economy – that will support gold prices through the long term, said Kristina Hooper, chief global market strategist at Invesco, on the sidelines of the Inside ETFs Canada conference in Montreal.
With the U.S. central bank on course to cut rates next month, Hooper added that she is positive on gold. “Certainly gold is attractive in this environment,” she said. “Some could argue that it is a helpful gauge of investors’ concerns about recession possibilities, but for a variety of reasons, gold looks attractive.”
