How to buy gold CDs and Sachs CDs – Gold prices to fall and Sachi CD prices to climb,
Posted October 01, 2019 15:00:58 The cost of buying gold CDs is to fall, but the Sachi cd is rising, according to the Financial Post.
Gold prices are to fall for several reasons, said Peter Lee, senior economist at Commonwealth Bank, adding that the price of gold is rising at a fast rate and that the SachS cd is trading at a premium.
He said it is also likely that investors will have to wait until the end of 2018 before they can expect the price to fall further.
“We are very concerned that the gold price could fall by around 25 per cent to 30 per cent from the current level, which would be enough to cause a correction in gold prices,” Mr Lee said.
“The Sachi is still trading at an exuberant price at the moment, and we are confident that the market is going to see that level for some time to come.”‘
The market is looking at a correction’Gold prices have also been on a downward spiral for some months.
They have fallen by over 30 per to 40 per cent over the past year, as the price is down about 20 per cent since late August, according the Australian Dollar Index.
“There are a number of reasons why gold prices are on a downtrend, some of which have to do with concerns about the economy, other than that,” Mr Leong said.
Investors are increasingly looking for the longer-term to hold gold, he said.
Gold is the fourth-largest international reserve currency in terms of market value and is trading in excess of $US7,000 a troy ounce, according China’s People’s Bank of China.
In the United States, gold prices fell by over 50 per cent in the first half of 2018 to an all-time low, according Reuters data.