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Current DateTime: 08:28:38 09 Feb 2012
LinksList Documentid: 25124396
Expiration DateTime: 2/9/2012 8:30:56 PM

ABOUT THE CNBC STOCK BLOG

The CNBC Stock Blog is a cross-section of expert opinions and insights from our TV and Web site coverage. This blog includes posts written by and about top analysts and strategists, super-investors and CNBC's own market mavens. You'll find stock picks, news about publicly-traded companies, commodities, hot sectors, ETFs and the latest options action.
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Current DateTime: 08:28:38 09 Feb 2012
LinksList Documentid: 30328029

CNBC EXPLAINS


Current DateTime: 08:28:39 09 Feb 2012
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Investing in Precious Metals

Published: Wednesday, 2 Jul 2008 | 1:55 PM ET
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Krystina Gustafson
By: Krystina Gustafson
Special to CNBC.com

"The persistently high price of oil, the weaker dollar and the resurfacing credit crisis are driving up the price of precious metals, making them safe investments," said Jim Steel, chief commodities analyst for HSBC.

"There's a number of indicators that show investor risk-averse behavior is rising," he said, "and that, particularly, is a funnel into the precious metals."

Steel predicts gold prices [US@GC.1  Loading...      ()   ] in particular will continue to rise until the Fed responds more aggressively to inflation, or until oil prices cap. But even though gold and oil often move simultaneously, he cautioned investors not to draw too much of an analogy between the two.

"Directionally they do move together, but it's not necessarily a lock-step relationship," he said.

Disclosures:

Disclosure information was not immediately available for Steel or his fund.

Disclaimer

© 2012 CNBC.com


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