Steve Rand
General Manager / Sr. Precious Metals Advisor
Steve Rand is the General Manager and a Sr. Precious Metals Advisor at Scottsdale Bullion & Coin. He brings over 20 years of experience in the physical precious metals markets.
Brian Conneely
Precious Metals Advisor
Brian Conneely is a Precious Metals Advisor at Scottsdale Bullion & Coin. He's worked in the precious metals market since 2009, trading commodities and futures before moving into physical gold & silver investing.
After reaching numerous all-time highs this year, some investors might think gold prices are headed for a cool-off, but fundamentals tell a different story.
In this week’s The Gold Spot, Sr. Precious Metals Advisors Steve Rand and Brian Conneely pinpoint the drivers behind gold’s rally and why investors haven’t missed an excellent opportunity to buy gold…yet.
Recession Fears Spark Rate Cuts
Many banks forecast that the Federal Reserves will make rate cuts of 175 basis points by next summer. This expectation follows growing recession concerns as the economic boom wanes. Fed Chair Jerome Powell signaled the government’s intention to begin slashing rates before inflation returns to the target of 2%, which it’s still evading.
The US dollar faces an uphill battle as rate cuts tend to push investors away from the USD to seek higher yields elsewhere. That’s good news for gold and other precious metals that often see tailwinds from rate cuts.
Economic Uncertainty Spikes
Investors are laser-focused on the Fed’s incoming rate change policy, but plenty of other economic burdens are squeezing markets.
We’ve got everything that you could really have as a recipe for what makes gold and silver go up.–
Hot Wars
The wars raging in Eastern Europe and the Middle East threaten to spill over into broader conflicts. Just recently, Ukraine launched an offensive deep into Russian territory, and the United States is sending warships to support Israel.
Debt Crisis
The national debt hit $35 trillion, marking another shocking record in the ongoing debt spiral. No politician is willing to address the issue as the spending-printing dance continues. With annual interest costs hitting $1 trillion, Modern Monetary Theory prevailing, and a $91 trillion global debt crisis looming, the problem will only worsen.
Related Video: MMT Madness: Why the U.S. is Drowning in Debt
Market Volatility
The stock market saw one of its biggest drops earlier this month, losing 6% within seconds of the opening bell. This shock highlighted the unease in traditional markets, explaining why interest in gold and silver is growing.
Is It Too Late to Buy Gold?
With gold spot prices reaching a new all-time high today of $2,512.40/oz (intra-day), and breaking through our 2024 gold price prediction, many people are reasonably wondering if they’re too late to invest in gold. Nobody wants to get caught buying at the top of the chart. Despite this impressive gold rally, all indicators suggest the precious metal is set to go much, much higher.
The reasons for owning gold have only grown in the past 20 years.–
All the economic pressures behind gold’s recent surge are getting worse. Experts are raising their gold price predictions for 2024 and beyond, not lowering them.
Gold Price Projections
Nobody can predict the precise top of this gold surge, but various projections put the yellow metal within the $3,000/oz to $5,000/oz range over the next few years. If that sounds too good to be true, consider that gold spot prices have already jumped 29% in the past year alone.
Repeating that move would put gold spot prices at $3,160 an ounce by the summer of 2025 — just as unfathomable as the yellow metal’s current price a year ago.
It’s headed to $5,000 or beyond…this is an excellent time to be buying gold.–
Don’t Wait to Buy Gold; Buy Gold and Wait
The fundamentals propelling gold prices to all-time highs remain strong. Economic uncertainty is rife, and physical precious metals are becoming the go-to place for investors to park their wealth. We always hear from investors who wish they would’ve gotten in sooner.
“The wisdom is to not wait any longer. If you’re thinking gold should be part of your portfolio, it’s time to pull the trigger.”
Brian Conneely
Precious Metals Advisor
You’re better off buying gold and waiting rather than waiting to buy gold. Lower entry points now could mean more peace of mind and higher returns in the future. It’s time to make your move.
Request a FREE COPY of our Precious Metals Investment Guide for a comprehensive rundown on gold and silver investing.
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