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Gold price | Gold Price, Global Politics & Ukraine: Expert Roundtable | Gold News

Gold price | <b>Gold Price</b>, Global Politics & Ukraine: Expert Roundtable | Gold News


<b>Gold Price</b>, Global Politics & Ukraine: Expert Roundtable | Gold News

Posted: 06 Mar 2014 03:29 AM PST

Andrew Hecht and Dennis Gartman join expert panel debating Russia/Ukraine crisis and gold prices...

GOLD PRICES rise on war and geopolitical threats. Or so runs a common idea now Russia is threatening Ukraine, writes Miguel Perez-Santalla, vice president of BullionVault, the world's largest physical metals exchange for private investors online.

Current events in the Crimea make this gold price assumption an urgent topic for savers and investors. Which is why I just hosted this roundtable of market experts to discuss global politics and how it impacts commodities markets. 

Speaking to four leading experts on gold prices, commodities markets, economics and politicals, I gathered their latest insights on the Ukraine-Russia events, precious metals outlook, and investment perspectives.

Listen To Business Internet Radio Stations with New York Markets Live on BlogTalkRadio
Bill O'Neill of Logic Advisors has visited Ukraine twice in the past 18 months. Bill believes the situation will quiet down in the short-term. "But don't be surprised to wake up one morning to hear that there is shooting going on..."
Commodities trader and author Andy Hecht agrees. "It's not the end, it's the beginning," he told my gold price panel, pointing out that crude oil has backed off in the past couple of days, although palladium is still up strongly. Because "Russia produces 80% of the world's palladium."
Author of daily trading advisory Dennis Gartman said events in Ukraine sparked an instantaneous flow of money into gold. Grain and crude oil also saw price spikes, on the belief that supplies would be cut off from the Ukraine – the world's third-largest exporter of corn and fifth-largest exporter of wheat.
"Interestingly, the Yen got stronger. People may have believed that the Yen was a safe harbor, which I don't understand," said Gartman, currently long of the gold price in Yen terms as he expects the currency to underperform.
Gold politics and investment expert George Milling-Stanley meantime noted that either "gold has had a really bad time, because it's dropped more than 30% from an all-time high. Or you can say that gold is actually performing quite well because it's building a base that's 5-times the level of where it was just a decade ago."
Listen to the full hour-long show here at Bullion Vault's New York Markets Live special on Ukraine and commodities.
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