On GP from Lobo Tigre for what it's worth :The honest truth is my next target is probably downwards, near-term downwards. I suspect that the hot fighting in Ukraine can’t last much longer and when the fighting cools off, the fear fades, and gold’s recent tailwinds turn into a headwind,” he said.
Long-term fundamentals, including high inflation, a potentially stagflationary economy, and negative real interest rates, should propel gold back up above $2,000 before the end of the year.
“I think there’s a very real risk to the downside in the near-term for the end of the war one way or another,” he said. “I do think that the inflationary trends, the stagflationary trends, still call for plus $2,000 gold by the end of the year, plus $2,100 is easy. If we were to hit an inflation-adjusted high, it’s plus $2,800. That would not be hard to reach by the end of this year at all.”
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