Finally, on August 7th of 2020, that is, almost exactly 2 years ago, analysts spoke to CNBC for gold, which reached its last peak with $2072, and said that the yellow metal, which is considered as a safe haven Is seen in, can even appreciate. More so because the Fed has stopped raising interest rates.
“It resisted interest rates very well”
Bart Melek, global commodity strategy manager at TD Securities, a Canadian investment bank and financial services company, said he expects gold to reach $2,100 an ounce by late 2023 or early 2024:
“The exit of the Fed from its restrictive policy will also increase the price of gold. I think it will happen before the Fed reaches its 2 percent inflation target. I expect the price to reach $2100 in late 2023 or early 2024. Gold has outperformed many major assets in the last 1 year. This clearly shows how resilient it is in the face of rising interest rates.
“My goal is $2500”
David Neuhauser, founder of US-based Livermore Partners, which provides alternative financial services to high-net-worth investors, drew attention to 2024, saying:
“I think by the end of 2024 the price of $2500 will come. The recession may start in late 2023 and strengthen by late 2024. I see 2024 as a year when gold will break new records. He will also go ahead of his previous record. I expect the stagflation in the global economy to strengthen as inflation falls to the range of 5% to 3%.
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