HUGE! “Prepare for the BIGGEST Gold & Silver Price Rallies At This Date” – Ross Beaty
Ross Beaty, a prominent mining billionaire and chairman of Equinox Gold, has shared his insights on the current dynamics of the gold and silver markets, emphasizing their potential for profit in the current environment.
Beaty believes that gold is poised to reach its all-time high within the next year or two. He attributes this bullish outlook to several critical factors, including robust demand, limited supply, and the possibility of significant macroeconomic events. Additionally, Beaty notes that silver’s long-term strength is influenced by its dual role as both an industrial metal and an investment asset, which could lead to potential price increases.
As of September 14th, 2023, gold prices have remained relatively stable, while silver prices have experienced a moderate decline.
On September 15th, gold prices increased as the US dollar weakened against the yuan. This uptick was driven by promising economic data from China, the world’s leading bullion consumer. However, investors remained cautious due to the possibility of further US interest rate hikes.
Beaty acknowledges that the current gold market has been characterized by stagnation and unpredictability, primarily due to various economic factors such as Chinese economic growth, fluctuations in the US dollar, interest rate movements, and actions taken by the Federal Reserve.
The demand for gold worldwide in 2021 exceeded 4,700 metric tons, with jewelry being the primary demand driver in the second quarter of 2023, accounting for approximately 491.3 metric tons. This demand surpasses that for investment, technology, and central banks. Beaty predicts that gold will continue to perform well and could surpass the 2,000-dollar mark. This positive trajectory is fueled by solid demand from both investors and central banks, while silver’s volatility is influenced by gold.
During the initial decade of the gold bull market, mining equities demonstrated impressive performance, surpassing the gains seen in the price of physical gold. However, this trend took a turn after gold peaked in August 2011. In the years following, gold mining stocks struggled and significantly underperformed the rising price of gold.
According to insights from the Sprott Gold Report, several factors contribute to this underperformance. However, in their assessment, one of the most prominent barriers to higher valuations for gold mining stocks is the prevailing belief that the current gold price, hovering around $2,000 per ounce, is not sustainable in the long term. One crucial factor impacting the relative appeal of gold mining shares is the overwhelming success of ETFs like GLD and other financial instruments closely tied to physical gold.
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