As We Forecast: Gold Surges Past All-Time Highs, Here's Why It's Still a Buy
This economic data, combined with the upcoming presidential election in the U.S., and WWIII all support our forecast that gold, the world’s #1 safe-haven asset, will soar in 2024.
A stronger U.S. dollar could not slow down gold prices on Tuesday as spot gold hit an all-time high of $2,276.89 an ounce and U.S. gold futures increased 1.6 percent to $2,292.70.
There is a surge in safe-haven interest because we are led by warmongers and Israel looks to expand the war in Gaza to include Iran, which will crash the equities market because oil prices will surge. That’s not to mention Ukrainian President Volodymyr Zelensky whose military finds it easier to attack oil refineries in Russia than reclaim lost land.
Gerlad Celente said there will be a flashpoint that makes WWIII official and that when war escalates in the Middle East, Brent crude will spike to above $130 a barrel which will crash economies and equity markets. In turn, nations and investors will seek gold as the number one safe-haven asset… Bitcoin will be #2.
As we had forecast for several months, the U.S. Federal Reserve will lower interest rates later this year, and the lower interest rates fall, the deeper the U.S. dollar will sink and the higher gold prices will rise.