When most of Wall Street expected the Fed would taper its asset purchases starting in September Jim Grant predicted it would not, and he was right on the money. The editor of Grant’s Interest Rate Observer is a student of the Fed who closely follows global interest rates and financial markets, but he’s not a fan of the U.S. central bank, or any other major central banks for that matter. And that’s why he’s bullish on gold.
“The world ought to have much less faith in central banks, and as that reasoned distrust of a broken model grows, the gold price, I think, will appreciate,” Grant tells The Daily Ticker. “Gold is cheap at this price.”