by Gerardo Del Real
Last week I wrote that clear post-Brexit trends were emerging in the global markets. Capital is looking for a home, the U.S. and the dollar will continue to be a safe haven for capital from abroad.
Gold will be a safe haven many will turn to, though it hasn’t corrected significantly yet, and hasn’t broken out either. I still believe we are in for a correction the second half of this year.
While it wouldn’t surprise me to see a $200-$300 correction from today’s prices in the second half, it won’t be the type of correction that people like Harry Dent are calling for. Harry will miss, and has missed, new highs in the Dow, S&P, and gold.
He will then probably write another best-selling book about why he’s right. Maybe I’ll write a book about it.