Feb 20, 2013|
What's Up On Wall Street - Liz MacDonald. Fox Business
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Well good morning ladies and gentlemen the market has been open for about thirty minutes we're pretty much flat for the day down about four points on the down. We are going to be talking about gold. Liz MacDonald from the Fox Business Network joins us this morning to take a look at the price of gold which is. Well it's not doing anything good lately good -- has. -- morning and let it be tickets pay let's let's gold Dylan right now that house tritons all of now -- the upload it broke ordered it. -- announced he's. And we think are built on two went out of -- 88 dollar count that the lowest since August there. I got a little nervous about gold when I saw some of the big boys -- and out of it -- -- George Soros sold -- his golden. It did you did you get a similar feeling in your stomach when you saw some of the big players. Three point make the -- and about a lamb that traffic mr. at the base is when it was -- -- -- Because I remember that any -- there's Tara start dumping out of bed and -- jump -- cougar town. Aren't all the pomp. And when it 80 wait I can their current player. Uncle that back in more electric current is in a commodity. On and at Wembley on that ankle may not mean a longer the a front at a big event. Not really a -- back and -- that we need the action today basically. Justifying the move. What day like when you look at it you'd aside from the big boys get now does or any other recent at gold's declining in price because the US dollar are -- the sudden. Spiked up in value or is is there some GO. Geopolitical reason that that perhaps gold's declining. On a string of fundamentals for gold really haven't changed but other aspect class that have become more attractive and at leading gold in the garage and you know that's the debate is that we've been trading the value that a practical. And the market is only is that as we want the quiet. And though it has become much more dependent on investment sentiment and it investors -- And practiced well. On top rally at the at and T and now Jones industrial -- at their highest level -- what it by ear training session I mean. Yes indeed that pick up about that more than -- per cent a credit here first is that corporate spent lost and our -- I've talked to a couple listeners in the last thirty days who told me they sold their gold. And they are now buying dividend paying stocks with the money that they sold their goal and that's what they're using with their proceeds pretty. And they want stacked cans coming into the stock plays and the return bonus dividend stocks because there has been a light. It has been chipped it and not you know. Yeah yeah IE still get -- like we're just looking at some utility stocks -- dividends of 4%. On what what are the next price resistance levels on gold to make a lot of people are saying OK they're looking at this as a trade. And they are saying okay -- gonna go to acts and then I'll buy some of jumping and wait where -- the words as it was. And -- looking at people talking buried -- as well. I told him you know I got to pay off when they read these. Forecast I mean they're about as reliable as weatherman and I don't like team and but. You know we -- speed and start talking about fourteen and he got a -- -- with a potentially -- out of that. Though he. The other issue pressuring gold to hit the earth that are in our latest policy meeting. -- the -- -- -- gonna be coming out later today. They're radical but the going to be watching for the central bank's attitude toward monetary power thing. Packet that it helped tricycle rallying we years. So any. Button discussion on what. It's -- will do to unwind that meant that nearly three trillion dollar balance sheet -- Really aspect that treating in the US dollar at a gold. If so what are things that occurs to me like Europe does seem to be settling down right mean there you've you've actually got a country that wants to join the eurozone in Poland. Domestically I think we're gonna get through our issues the banks start to lend again. If the economy gets stronger and you see a decline in unemployment and housing solidifies is that bad for gold. That's it for that -- -- rhetoric when the academy -- -- basically that there article Wall Street that that's why. Gold has been dropping -- late because he kind of April by appealing. But then again it but it also an in patient story we have that up a lot of people on camera at a whether or not their current war whether that inflation will be a problem what that dollar will be it. It all depends what the ferry service gonna do that and -- the balance sheet and they need to get on the Treasury's. And that on those. You don't expect security. Or very platonic just basically be -- a bad bunt -- -- diet. Wrote that that -- cup but the question is what about the banks. And the bank reserve holding on the ballot -- When the banks are taking that money out. -- argued that opposite that balance sheet and use that money alone because the that are there at the pain and about a quarter percentage point. To warehouse their -- is there that have been created with a you know pretty event pressing at the computer but over there that that. So debate that's the issue implement those bank group and there -- listing pretty economy and when will that. That the practical these seem to be for now long term -- They're not immediate right now at gold as acting more like a treat -- ever before. It's really fun to watch you know as we -- go to 19100 wasn't that long -- when was that that was in last year he was last year and early. So in anything year if it's dead at the trading range on 19100 now we're down 1586. Exist just a story will continue to watch. We you know went into brought them to it is that gold that been on a twelve year rally a bull run. Though it's been range and in -- where that right now person that peak that it hit. You know for some time though Indianapolis area for a -- to which I've. Shouldn't mention is that India China. Russia and central banks there have been buying gold. -- weather net -- pressures are bullish furcal back all the debate you know lost. But it might quite like I saw the story has covered a story about Russia and really is final the gold would you do with it like you say you own physical gold Vladimir. You know how does that help educate your your your citizens how does that provide health care to -- you know. What is what is it do for country like Russia or China when they own a lot of physical gold -- CD the the societal benefits. Yeah I mean I think it's the they -- a lot of pressure that old repaired there I mean I'm an -- Russia Armenia and countries around the world that has been buying all that as well. And I think that you know. They're being deported to build it being prepared to -- -- it. And weathered at the dirt earth -- away from the dollar and Euro at. What is key here we -- being buried there are a and as well and it is the night in and -- -- on -- in spite of that I think the current line. You know like the back 90. Very interesting period single -- you know what they use you learn something every day thank you very much it but it Liz McDonald's Fox Business Network joining us. On gold pricing you know there's so many. Divergent. Opinions on gold you know. Now people are either really bullish on the old or they're really bearish on gold there's no barrier are rare rarity here and in between sentiment out there that's not something you can't be on the fence about yet either a lot of -- love that he had. Something I love. Is low. Our low interest rates and here's a low interest rates you're not going to be able to resist you can borrow on a fifteen year fixed rate mortgage. A lot of money. Up to 4171000. Dollars I believe it is at three unity. On your home imagine. B is here's the thing that attracts me to a fifteen year fixed rate Mort you're gonna be debt free you gonna buy that Condo urgent need take at a fifteen year mortgage and then you can say to yourself. -- when I'm fifty I'm gonna be debt free now I'm 35 today fifty years old and I mortgage free. I think this is a great deal and I think you should call Ross mortgage if you have here's the deal. If -- mortgage rate is higher than three and an -- he need to call this number 8889860060. It's called Ross mortgage and they have a fifteen year fixed rate mortgage at three and an -- I just think it makes a lot of sense to be debt free before you retire right so if you're fifty years old and you're gonna work to your 65. Take a fifteen year mortgage and you know you're gonna be -- -- I promise -- this interest rates are not gonna go a whole heck of a lot lower they go much lower I'd I'd be shocked. I think this is the bottom. For that interest rates on a fifteen year fixed rate mortgage at three candidate so get -- it's 8889860060. Only call if your mortgage rate is higher than three unity. The number again. 88986. 0060.