KeCap Dicker, founder and chief investment officer of IceCap Asset Management, recently said that a stronger U.S. dollar would be good for gold because it would signal major problems in financial markets. An important buy signal for potential gold investors is when gold can gain a foothold in the higher US dollar.
With support staying above $ 1450, gold has been struggling to find momentum. However, a fund manager believes that no investors will flood the gold market in the short term because the dollar is about to rise significantly.
Keith Dicker, founder and chief investment officer of IceCap Asset Management, recently said that the fundamentals of gold have strengthened in the past year, but the performance of the US dollar in the coming months will still constitute a major resistance to gold’s rise.
“Gold is a tool for hedging the risks of geopolitical and financial uncertainty. If you hold gold, you feel pretty good right now.”
He also added that investors who missed the 20% gain this summer still have the opportunity to see a wave of gold prices rise, but these investors need to be patient.