摩根大通：金價最終可能包纏取代主權債券

我們剛剛收到了來自索利塔MARCELLI，摩根大通私人銀行的固定收益，貨幣和大宗商品的全球頭（只給富有的投資者至少有$ 5萬可投資資產的開放）一些令人難以置信的誠實聲明。
她這週告訴CNBC，銀行的分析師希望看到黃金價格走高在今年的其餘部分。 （由2016年末$ 1400）。這是從銀行立場的巨大轉變在今年年初的時候，他們預計年均價$ 1,104 2016年。
MARCELLI指向世界各地的負利率，說：“黃金每一天看起來越來越有吸引力。作為一個非收益性資產的，具有最小的存儲成本，所以當你把它比作負收益的資產，它實際上有一個正利差......黃金是在一個環境有很大的投資組合對沖，其中世界政府債券處於歷史最低收益率水平“。

她繼續說，最終“金價可能清盤實際上取代主權債券，長期以來被認為是最安全的安全的地方為財富，是投資者首選的避風港”。
她還預計，央行將繼續購買黃金，以分散其外匯儲備。

JP Morgan: Ultimately gold could wind up replacing sovereign bonds

We just received some incredible honest statements from Solita Marcelli, global head of fixed income, currencies and commodities at JPMorgan Private Bank (open only to wealthy investors with at least $5 million of investable assets).
She told CNBC this week that the bank’s analysts are expecting to see gold prices go higher for the rest of the year. ($1400 by the end of 2016). This is a huge shift from the bank’s position early this year when they expected an average annual price of $1,104 for 2016.
Marcelli points to the negative interest rates around the world and said, “Gold is looking more and more attractive every single day. As a non-yielding asset, it has a minimal storage cost, so when you compare it to negative-yielding assets, it actually has a positive carry…Gold is a great portfolio hedge in an environment where world government bonds are yielding at historically low levels.”
She continued by stating that ultimately ‘gold could wind up actually replacing sovereign bonds, long considered the safest of safe places for wealth, as the preferred safe haven for investors’.
She also expects central banks to continue buying gold to diversify their foreign exchange reserves.