![]() It is transient but it will be more prolonged than initially forecasted… That is bullish for gold because historically we see gold tick higher when inflation is more persistent as opposed to short term.” Inflation is here to stay for the next year or so. That second-round impact of the price increases will last into the second half of 2023. There is a very strong case for the year-end gold rally. That’s what I’m looking for at that year-end rally. If we see inflation expectations outperforming the move in yields. They say inflation fears and data around employment figures are all giving a boost to the yellow metal, with the expectation that gold will hit its all-time high of £1,578 ($2,075) once again before the end of 2021.ĭailyFX’s Warren Venketas said, “Inflation is a big one for me. Analysts from DailyFX are also strongly pro-gold and are predicting pricing around £1,429 ($2,000) in the immediate short term thanks to current market conditions. Goldman Sachs are not alone in their expectations that gold will now move sharply higher.
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