As global stocks fell Thursday on concerns about the economic recovery after the Federal Reserve lowered its forecasts for U.S. growth for the next three years, safe-haven play gold rose. Experts tell CNBC the precious metal's price is likely to resume its upward climb.
Gold May Test $1,200
Gold is beginning to gain investors' interest given all the debt funding we are seeing around the world, notes Frank Holmes, CEO & CIO of U.S. Global Investors. He tells CNBC that gold may test $1,200.
US Market May Correct 8-10%
Milton Ezrati, partner, senior economist and market strategist at Lord Abbett, says the stock market does not move in one direction for very long and a pullback of 8-10% is likely.
US Stocks Make Good Long-Term Buys
U.S. equities and credit-sensitive fixed income instruments will provide a nice return in 18-24 months, says Milton Ezrati, partner, senior economist & market strategist at Lord Abbett.
Asia Recovering Faster Than US
Asia is seeing a recovery faster than the U.S., observes Frank Holmes, CEO & CIO at U.S. Global Investors.