Retirement
No Brexit means a buying opportunity for SMSFs, says economist
A vote for Britain to remain in the EU will see a short-term pullback in gold, providing SMSF investors with an opportunity to enter the market or accumulate holdings, according to one economist.
No Brexit means a buying opportunity for SMSFs, says economist
A vote for Britain to remain in the EU will see a short-term pullback in gold, providing SMSF investors with an opportunity to enter the market or accumulate holdings, according to one economist.
Looking at what has occurred in the gold market over the past six months, ABC Bullion chief economist Jordan Eliseo said it shows that any of the dips in the market have proved to be a good time to accumulate.
"For a person looking to enter the gold market, there is a chance that if Brexit doesn’t go ahead that we’ll see a pullback and that may be an attractive buying opportunity," said Mr Eliseo.
Any pullback in price, Mr Eliseo said, will be temporary, with prices likely to quickly stabilise again.
While a short-term decline will provide a good opportunity to get into the market, he stressed that investors should mainly be focused on the long-term fundamentals.
"The fundamental reasons to own gold are much more to do with low real interest rates and the way it diversifies against stock market volatility," he said.
"I think Brexit could either be a potential short-term boost for the gold market [if Britain leaves the EU], or it could also be a buying opportunity if the Brexit doesn’t go ahead."
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