- Five Stock Picks for This Market
- Weak Dollar Means Gold at $1,040: Strategist
- Art Cashin Sees 11% Unemployment, Market 'Stagnation'
- Najarian: Options Bet on July Akamai Pop
- London Mover: LSE Group
- Oil Outlook for the Second Half
- Stock Strategies for the '7th Inning'
- Options Suddenly Love Chip Equipment Maker
- Art Cashin: Why Stocks Will Rally This Week
- London Movers: Taylor Wimpey, Man
|
CNBC'S MOST SHARED
- 'We're in the Middle of a Crash': Black Swan
- The Rising Mountain of Debt May Be the Next Crisis
- SEC May Reinstate Rules for Short-Selling Stocks
- Latvian Banker Taking Souls as Collateral
- Malaysia PM Speaks to CNBC
- Alaska Governor Sarah Palin Will Resign
- The Worst Expected 2010 State Budget Gaps
- Cuddle Parties Heat Up
- Best Cities For New Grads
- Fireworks At Pharma's Market
- Value of Warren Buffett's Annual Gift to Gates Foundation Falls Along With Berkshire's Stock
- Michael Jackson: The Music And The Money
- Five Stock Picks for This Market
- Realities of the New Obama Refis
- Weak Dollar Means Gold at $1,040: Strategist
- Court Ruling Could Mean Trouble for TiVo
- Lance, Please Back Out Of Tour
- TeleMedicine Gets An Apple App Store Facelift
- Top Videos: From the Black Swan to the Bond King
- Property Tax Appeals Take Toll on Governments
- Obama Plan Would Trim Back Financial Powerhouses
- Schwarzenegger Signals Key Budget Concession
- Car Dealer Determined To Fight Chrysler Over Franchise
- For Banks, Wads of Cash and Loads of Trouble
- Biden: 'We Misread How Bad The Economy Was'
- The Rising Mountain of Debt May Be the Next Crisis
- For Australian Winemakers, More Turns Out to Be Less
- Top Videos: From the Black Swan to the Bond King
RSS FEED
Text Size 
"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.
Data is a real-time snapshot *Data is delayed at least 15 minutes