Top Forecaster Predicts Gold Will Soar In 2024
The top forecaster in the world just predicted that the price of gold will soar in 2024, even though the market can be volatile at times.
GOLDEN DAYS: A GOLDEN YEAR FOR GOLD
January 3 – As we had forecast for several months, in early 2024, the U.S. Federal Reserve will lower interest rates. And the lower interest rates fall, the deeper the U.S. dollar will sink and the higher gold prices will rise.
We ended 2023 with all economic data in the U.S. indicating that inflation is cooling, cementing the belief on The Street that the Federal Reserve will begin to cut interest rates significantly in the new year.
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.
They want to keep the people in power in power, noted Gerald Celente, the top forecaster. It shows you who’s running the country.
Lower interest rates will give a boost to stocks, as well as gold because the lower interest rates fall, the weaker the U.S. dollar becomes against the basket of foreign currencies and, thus, becomes a cheaper investment in the international market.
The market is betting that the U.S. central banksters will cut interest rates up to six times next year.
James Gorman, the head of Morgan Stanley, told the Financial Times late last month that the minute the Federal Reserve has concretely signaled that they’ve stopped raising rates, let alone the point at which they do rate cut, these markets will take off.
As wars escalate, more nations and individuals will be seeking gold as a safe-haven asset. There will be a flashpoint that makes WWIII official and 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.
The world is in the process of turning away from the U.S. dollar. Simply stated, the lower interest rates fall, the deeper the dollar will decline and the higher gold prices will rise. And, what we will witness is the beginning of the Death of the Dollar.
Central banks around the world bought roughly 800 metric tons of gold this year through September, 14 percent more than during the same period in 2022 to set a new record, according to the World Gold Council.
Indeed, the World Gold Council reported in December that central banks in emerging markets bought 521 tons of gold a year on average between 2010 and 2021. But last year, they bought over 1,212 tons of the metal and, in the first three quarters of this year, 800.
Gold prices were up $134.90, or nearly 7 percent, in the last six months of the year. Spot gold prices are showing a near 12 percent gain in 2023.
With these indicators, it seems that 2024 may indeed be a golden year for gold. Investors and central banks alike are turning their attention to the precious metal as a safe-haven asset, driven by factors such as lower interest rates, geopolitical tensions, and a shifting global economy. As the price of gold continues to rise, it may be time to consider investing in this valuable commodity.
DISCLAIMER: The views expressed in this article are those of the author and do not reflect the official policy or position of any government, organization, or news agency. The information provided herein is for informational purposes only and should not be construed as financial or investment advice.
