Higher Yields Bullish For Gold? – "Technically Speaking" w/Jim Wyckoff

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Kitco News speaks to Jim Wyckoff about safe-haven demand in gold, the Indian rupee against the U.S. dollar and silver on this edition of “Technically Speaking.” According to Wyckoff, there is safe-haven buying surfacing from increased worries about the periphery currencies in Asia being under strong selling pressure. “The solid losses in the U.S. dollar index Tuesday morning are also a bullish factor for the gold market,” he added earlier today in his daily Kitco gold update. These Asian currencies are under pressure due to increasing interest rates in some of the major world economies, he added. Unlike other analysts, Wyckoff says higher interest rates may be bullish for gold. “I look at rising interest rates, I look at improving world economies and that’s buillish for gold based on the demand factor.” Wyckoff also touches upon the Fed’s tapering announcement expected to come out in September. Watch now to hear Wyckoff’s market rating for gold & silver. Kitco News, August 20, 2013.

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