The Bank of America predicts a $US2400 gold price this year (Kit** article)
https://www.*****.com/news/article/2024-04-03/golds-track-hit-2400-year-less-dependent-fed-rate-cuts-bank-america
This is not a brave prediction, when we are already at $US2341
I am confident we will be at $US3000 by the BRICS conference, in October 2024. A lot faster, if things get Biblical in the Ukraine, and the Middle-East.
At least we have broken the insanity of locking the gold price, to the US hallucinations, known as their job figures!
An excerpt from a recent article..
To be honest, I have been dreading writing this week’s note because of the volatility in the gold market. It feels like anything I write becomes obsolete the minute it is published. Just look at my headline from this morning: Goldprice testing support at $2,300 after U.S. economy created 303K jobsin March.
That article was accurate for about 30 minutes, and then the price started taking off, with June gold futures eventually touching $2350 an ounce.
Trying to anticipate gold’s short-term price action has always been a mug’s game. So, looking beyond the near-term volatility, we can clearly see that gold is no longer a U.S.dollar-centric asset; it has once again established itself as a global monetary asset.
The Bank of America predicts a $US2400 gold price this year...
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