Bob Iaccino of TraderOutlook.com, was featured on CNBC today and gave his professional opinion on investing in Gold. For those who may not know who Bob Iaccino is, he is a popular guest analyst on Fox Business Channel, CNBC and Bloomberg. He was asked about gold investing today and made some solid, unarguable points as to why he thinks gold should be a core holding in some portfolios.
“Gold is here to stay as an investment. It is a physical commodity that you can hold, and I always kind of smile to myself every time I hear people say that gold doesn’t produce anything and it doesn’t have earnings, but it also doesn’t have accounting scandals, it doesn’t have CEO pay to worry about, it just provides value, as an asset at its core. So, I like gold as a holding. I think it’s permanent long-term investment for people in their portfolios and because of that, I don’t think it has to go down…” said Iaccino.
Mr. Iaccino goes on to further explain why investing in gold is great for people as well as why he feels gold will not go down but to continue to increase in value.
“to me it’s an asset that can continue to increase in value. I think $2,000 – $3,000 is easily reachable in the next 2 years.” states Iaccino.
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