The gold worth appears set to finish 2023 on a excessive word, however what’s going to the brand new yr convey?
Frank Holmes, CEO and chief funding officer at US International Buyers (NASDAQ:GROW), thinks new all-time highs are simply in attain in 2024. He sees falling charges and powerful demand as necessary catalysts for the yellow metallic.
“The truth that some (rates of interest) hit 40 yr highs put a dent in gold, however should you went again … and you probably did the right inverse relationship of charges rising (and) gold falling, it suggests gold would have fallen to US$1,500 or US$1,400 — it did not,” he defined to the Investing Information Community. “It really held itself so nicely that now charges are beginning to fall, gold can simply go to US$3,000, US$4,000. I believe it is a suppressed, oppressed market that is extraordinarily engaging.”
Watch the interview above for extra from Holmes on gold, in addition to his ideas on silver.
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Securities Disclosure: I, Charlotte McLeod, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: The Investing Information Community doesn’t assure the accuracy or thoroughness of the knowledge reported within the interviews it conducts. The opinions expressed in these interviews don’t replicate the opinions of the Investing Information Community and don’t represent funding recommendation. All readers are inspired to carry out their very own due diligence.
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