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π Gold at $3000: a super idea for optimistsβ
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The World Gold Council (WGC) predicts a sustained bullish trend and a price of $3000 per ounce in ... 2040. Bank of America believes that this level is realistic within a 1-2 year timeframe. The price reached its highs back in December, and not only spot gold but also gold bars and long-term options are becoming speculatively expensive.β
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This is understandable - gold has a reputation of stable protection against inflation, and at the same time, it can be actively speculated or simply experience moral pleasure from owning such capital.β
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Last year the growth of gold (+15% in Q4 alone) was aided by geopolitics, the banking crisis in the US, the Fed's incomprehensible interest rate mess, and speculative demand from central banks. A separate factor can be considered China, which replenishes its gold reserves at any market danger. Nevertheless, the market is incredibly far away from the $3000 level.β
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JP Morgan gives cautious forecasts - $2250-2300, actively injecting capital into gold ETFs, a move it does not comment on. The forecast is based on expectations of a Fed taper cycle and economic conditions, including slowing US growth and declining nominal yields.β
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Bank of America dreams about $2400/80 already in December: its analysts are sure that the US economy is slowing down, while Europe is barely avoiding recession, and this situation will be beneficial for gold.β
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The IMF's chronic pessimist predicts an average spot gold price no higher than $1775. Scandalous Robert Kiyosaki predicts a stock market crash and depression due to a loss of confidence in the USD, which will bring gold into the $5000 zone in as little as two years, a view also supported by Peter Schiff.β
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What do you think? Urgently buy with the entire deposit??β
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Profits to yβall!