Gerald Celente - Trends This Week - June 28, 2016

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Although stocks bounced back on “Turnaround Tuesday” on the belief that contagion has been contained following the rout that wiped out $3.6 trillion from equity markets following Great Britain’s referendum last Thursday to “Brexit” the European Union… we disagree. It’s bigger than Brexit. Despite many of the world’s largest hedge funds betting billions on a “Remain” victory and British bookies putting the chances of “Leave” at barely 10 percent, in our June 15 Trend Alert, we wrote, “Should the ‘Leave’ vote win, we forecast the US dollar and gold prices will spike while equity markets, particularly those currently under downward pressure, will sink deeply lower.” Since then, gold hit two-year highs, the British pound fell to 31-year lows and currencies around the world hit new lows against the US dollar – or tested old ones – as investors sought safe-haven assets such as the dollar and Japanese yen. The criticism in the “investor” world has long been that gold yields no interest. However, as interest rates around the world keep trending lower and holding cash yields nothing, in a climate of ongoing market volatility, for many, holding gold is considered the ultimate safe-haven commodity.

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