For subscribers: Goldman says buy gold now: 'Time to buy the currency of last resort' Check out CNBCPro and get your first 30 days free.
jumped more than 6% on Tuesday, putting the precious metal on track for its best day in 11 years, and Goldman Sachs believes the Federal Reserve's latest stimulus package will prompt investors to seek out the safe-haven asset and drive prices even higher.
"Time to buy the currency of last resort," Jeffrey Currie, Goldman Sachs' global head of commodities research, succinctly summed up in a note to clients Monday night. Gold has gained more than 12% in the last two days as the Federal Reserve on Monday pledged unlimited asset purchases to support the markets. Prices are rallying as investors believe gold will be the best alternative as the central bank's actions lead to currency debasement and possible inflation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taylor Swift says leaked Kanye West video proves 'I was telling the truth the whole time'Taylor Swift is speaking out after what appears to be the full version of that infamous conversation between her and Kanye West leaked online over…
Read more »
The Metropolitan Museum of Art Moves Its ‘About Time’ Exhibition to the FallThe Costume Institute exhibition, originally set to open the first week in May, has been rescheduled to run from late October to early February 2021.
Read more »
China Reopens Movie Theaters For 1st Time Since JanuaryLess than 5% of China's theaters are reopening across the country after being closed for nearly three months. While social distancing is still encouraged in China, their reopening is a 'bright spot' during the coronavirus pandemic.
Read more »
Russian Theater Performing For One Spectator At A TimeStarting this month, Russia’s Perm Opera and Ballet Theatre will stream its performances online and allow just one spectator in the theater to watch in person.
Read more »
'One Day at a Time' Cast and EPs Preview Season 4 (Exclusive)The fan-favorite family comedy returns for its fourth season on Pop TV on Tuesday.
Read more »
Opinion | Facing equipment shortages and running out of time, what did George Washington do?Opinion | Bill Rivers: 'There is an old strength in the American people that lies deeper than party affiliation, and it is available to us now, in this moment, today.' - NBCNewsTHINK
Read more »