Garner Sees Gold Falling to $3,600-$3,700 as Stronger Dollar Policy Threatens Bull Market
Updated
Updated · Kitco NEWS · Jun 25
Garner Sees Gold Falling to $3,600-$3,700 as Stronger Dollar Policy Threatens Bull Market
3 articles · Updated · Kitco NEWS · Jun 25
Summary
Gold could keep correcting from around $4,000 an ounce and find a durable bottom near $3,700-$3,600, market strategist Carley Garner said.
Kevin Warsh's push to shrink excess liquidity and strengthen the U.S. dollar could undercut gold's core appeal as a hedge against currency debasement, she said.
Garner expects speculative money to keep unwinding across risk assets, with U.S. Treasuries and the dollar drawing flows instead on 4%-5% yields and safety demand.
At $4,350-$4,400 gold, she would favor downside exposure through a cheap $3,600/$3,800 put spread rather than an outright short, citing still-expensive options and summer trading weakness.