Gold and silver forecasts have already increased in Europe and the U.S. since the market-shocking "Brexit". Global banks predict a rise in bullion prices, with Morgan Stanley, Goldman Sachs Group Inc., and Credit Suisse Bank all projecting a 24% increase from current prices. The UBS Bank of Switzerland, a London bullion bank member, upgraded its "buy" rating on gold above $1,500 per ounce by early 2017.
Rose said, "Globalism is the new buzz word circulating the markets right now. When one country's financial markets drop, the effects are now felt globally and intensified. We watched this with the recent decline in China's currency which fueled turmoil in their stock market, drove their government to suspend trading twice in January 2016 and global markets panicked. As the third quarter starts, hemorrhaging initiated by the "Brexit vote" and the decision for the UK to leave the EU may have masked a more troubling market move with China's currency falling again."
These global markets now have big banks and hedge funds rethinking their investment strategies and forecasts. Globalism is now a component of the "stress tests" done by Federal Reserve.
Rose concludes, "Globalism is here, and people need a hedge against uncertainty. Gold is a bedrock in anyone's portfolio. At Capital Gold Group we will continue forecasting, educating and informing to give our clients 100% customer satisfaction. Rose anticipates more of the same for the next couple of years and expects the gold to retain its luster and break historical prices set back in August 2011 of $1,900 ounce.
About Capital Gold Group Inc.
Capital Gold Group Inc. is a global leader in GOLD IRA retirement accounts and physical delivery Gold, Silver & Platinum. CEO Jonathan Rose, is an international registered financial consultant with a series 3 commodity license. Mr. Rose has lectured in London, Singapore, Hong Kong, Malaysia and at the Financial Advisor Symposium in America on the benefits of Precious Metals for portfolio diversification.
Breaking News | China Gold | Russia Gold
Logo - http://photos.prnewswire.com/prnh/20160707/386986LOGO
(800) 510-9594 x 246 PR@capitalgoldgroup.com www.CapitalGoldGroup.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/capital-gold-group-inc-releases-global-bank-forecasts-300295169.html
SOURCE Capital Gold Group