Feb 07, 2018 Guest(s): Vince Lanci
Gold has been "benignly ignored" during the recent equities selloff, according to one veteran trader. "Gold is being purely a proxy for the dollar, which is commanding more demand by people in a panic," Vince Lanci, founder of Echobay Partners, told Kitco News.According to the trader, the yellow metal will likely soar "overnight, 30 years in the making," meaning that investors will flock to the safe haven once it is understood that it is the best possible hedge instrument against equities corrections.Lanci noted that he would not be a buyer of gold in this market. "On an intraday trade, I would be a seller, $10 higher, or I would be a buyer $20 lower" he said.