Tags: America's Forum | stocks | bonds | market | gold | economy

Economist Gurwitz: 'Overall Picture' for Stocks and Bonds Not Good

Thursday, 29 May 2014 06:07 PM

By Courtney Coren

As the price of gold nears its bottom and the stock market is near its top, the "overall picture" for stocks and bonds are "not looking so good . . . for the next several years," says economist David Gurwitz, managing director of Charles Nenner Research.

Gurwitz told J.D. Hayworth on "America's Forum" on Newsmax TV Thursday that, starting this year, the Dow Jones Industrial Average will go "down well over 50 percent from its level now and, then afterwards, a major move up over the next decade, but we'll have to survive the next five or six years."

The Dow is currently at 16,698. In February 2009, at the beginning of the recession, it fell to almost 7,000.

Gold is currently at $1,256.10, which is the lowest its been since February when it was at $1,255.68.

"[Gold is] going to go lower," Gurwitz said. "The cycles aren’t bottoming yet . . . and it's not time to buy, but it will be."

"It's been very difficult to be in gold the last two years as you know, but it's getting near time when it will be a bottom," he explained. "Gold stocks look like they're bottoming a little bit later," so July and August "should be a good time" to start buying gold again "for quite a while."

Story continues below video.



The Wall Street Journal is reporting that the dip in gold is part of the fallout from the geopolitical tensions between Russia and Ukraine.

Gurwitz explained that the Russian and Ukrainian tensions, disputes between Japan and China, and problems in the Middle East are all "hotspots" that play a role in the economic cycle.

"We don't know what causes what, we just follow each thing independently, but we don't think it's going to be really positive," he added.

Gurwitz says that right now stocks and bonds will make good short term investments, and gold, silver and grains are good long term investments.

Related Stories:


© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Author: Jeb Bush Has Conservative Record as Governor

Tuesday, 27 Jan 2015 15:35 PM

As there is much debate over the conservative credentials of former Florida Gov. Jeb Bush, a University of Northern Flor . . .

ADL Leader Jacobson: We Still Have Much to Learn From Auschwitz

Tuesday, 27 Jan 2015 18:51 PM

Anti-Semitism still thrives on the 70th anniversary of the liberation of the Nazi death camp at Auschwitz , but a change . . .

Paul Vallely: U.S. Military Aid to Ukraine is a 'Token Effort'

Tuesday, 27 Jan 2015 18:28 PM

The Pentagon's dispatch of 200 troops into Ukraine to train alongside the Ukrainian army in its battle against Russia wo . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved