Gold Should Be Trading at $1,700 an ounce According to Deutsche Bank

JH: My name Jack Hanney, Senior Partner with Patriot Gold Group. Earlier this morning Deutsche Bank reported that gold should be worth much more than you think. In fact Deutsche Bank said gold should be trading at $1700 an ounce right now. This Friday is the most closely watched economic news data worldwide.

In the last eight years this is the most closely watched jobs report ahead of the September Fed meeting. Many anticipate that if over 180,000 private sector jobs are added, that a rate hike is imminent in September. If that’s to be the case as in December of 2015 when the Feds raised rates a quarter basis point, the Dow plummeted from 17.8 to 15.8. Gold and silver shot up to 38% and 40%, respectively in the first quarter of 2016. So watch the jobs report here on Friday, the August job’s report.