CPM’s Jeff Christian Says Gold ‘Excellent Investment at Current Prices’, Addresses Comex Debate, CPM Group sees gold as an ‘excellent investment at current prices’ although a sharp rally could still be a couple of years away. Speaking with Kitco News on Friday, Jeffrey Christian, managing partner for the New York-based consultancy, said the firm views gold as an excellent investment at current prices and market conditions, on a long-term basis. ‘We do not expect prices to rise sharply for a couple of years, however, since we do not see any exogenous economic or political problems become so threatening as to stimulate sharp increases in investment demand until late 2017 at least.’ Christian also downplayed market rumors about the Comex potentially not having enough warehouse inventories to meet hypothetical demand. Such rumors surface periodically, but Christian said that while the percentage of Comex gold open interest covered by total Comex reported stocks has fallen over the past year and a half, it remains high by historical standards and ‘presents no perceptible risk of imminent problems with deliveries.’ Spot gold was last down .20 at 45.90 an ounce. Kitco News, September 25, 2015.
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