2024 Gold Forecast: What Investors Need to Know

2024 Gold Forecast: What Investors Need to Know

gold has firmly marked its territory
above $2,000 it’s breaking new ground
and currencies everywhere but there are
many of you asking will the rally
continue let’s find
[Music]
out today we’re looking at the recent
rally in the gold price so many of you
have contacted us to ask am I too late
to buy gold and will the price continue
to climb we understand at the time of
recording the gold price is up $400 in
the last four weeks it’s Punchy and it’s
not showing much sign of backing down it
is making record highs against the Swiss
frank the Euro the British pound the
Japanese Yen the Canadian dollar and the
Chinese Yan just to name a few so you
want to know is it still worth jumping
in now hang on a second while I grab my
crystal ball joking obviously I don’t
have a crystal ball but here at goal
call we do have over 20 years in this
game so are pretty qualified to give our
tant on this so will the gold prize
continue to rise have you missed the
rally Ensure no you haven’t missed the
boat as the legendary investor Rick R
says you should invest in gold not
because you hope it will go to 2,000 or
2,250 an ounce but because you fear it
will go to $8,000 or $10,000 the
implication here is twofold the first is
obvious you want to invest in gold
because you don’t want to miss out when
it climbs to nearly five figures but
more importantly you want to invest in
gold because if the price does reach
those levels then there will be a number
of factors that we are responsible for
that and let me tell you none of them
will will be good news the only way to
really answer whether or not the gold
rally will continue is to ask what took
the gold price here in the first place
first up central banks when we last
spoke we highlighted the unprecedented
demand for physical gold by central
banks east of Germany they have been and
continue to be the biggest buyers of
physical gold not retail not
institutions just good old central banks
China is the big one but they’re not the
only ones consider this Brazil Russia
India China and South Africa have bought
almost 5,000 tons of gold for their
official reserves in the last 15 years
the rise in China’s gold purchases
particularly interesting since it has
coincided with a sharp fall in their
officially reported Holdings of US
Treasury Securities the world is
becoming increasingly less dollar
Alliant now having said that the US
dollar Remains The Best of a bad Bunch
as we said at the beginning the gold
price isn’t only at new dollar highs
it’s also up against the Swiss frank the
Euro the Brit Bri pound the Japanese Yen
the Canadian dollar and the Chinese Yan
this move up is more than just a
statement about the perceived weakness
in the US dollar the real trade is gold
against the Yen and Euro as the US
dollar strengthens against these
currencies central banks see this and
they are diversifying and they are
protecting themselves with gold do we
expect this to continue yes we do now
the next part as to how central banks
are supporting the gold price is by
policy technically the tightening of
money monetary policy should have a
negative impact on the gold price but
the negative correlation between rates
and the gold price has been one that’s
been hardly worth mentioning in recent
months there’s just too much going on
elsewhere and because inflation is just
one of many issues for central banks
these days consider this the US national
debt is around $35 trillion 35 and
that’s without mentioning the servicing
of that debt it is so bad that even the
IMF has taken it upon themselves to
scold them about it just a few weeks ago
the IMF brought both the us and China to
heal telling them that they must take
action to lower future borrowing as a
surge in their debts threatens to have
profound effects on the global economy
and the interest rates paid by other
countries so that’s central banks if
we’re asking will the gold price
continue to rise then the impact of
Central Bank behavior and their buying
certainly hasn’t gone away and we expect
it to continue speaking of central banks
this nicely leads me to the next issue
of inflation we know that gold has shown
itself to be a hedge against inflation
and inflation is seemingly ever present
in the economy but is it the kind that
would just go away thanks to Central
Bank policy and therefore impact the
gold price well inflation manifests
itself in various forms at times it
mirrors economic Vitality through
heightened demand for goods and services
and then at other times it may indicate
supply shortages as we saw during the
pandemic however these are cyclical
phenomena that EB and flow and the free
market economy should naturally restore
prices to equilibrium and then there’s
debasement which focuses Less on the
quantity of goods and more on the
purchasing power of money it occurs when
a currency’s value declines relative to
others resulting in higher costs for
imports compared to countries with
stronger currencies and ideally this is
just a transient thing and the currency
May appreciate Over time however when it
persists it leads to debasement where
the currency’s loss in value proves
challenging to rectify and this is where
we are right now consider the price of
regular Goods both before and after the
pandemic the price hike isn’t temporary
it is enduring that is debasement and
this supports the reason to hold gold
and why we expect the gold price to
continue to Rally whilst your money
loses value gold holds its own and it
protects the value of your portfolio now
don’t be fool this doesn’t mean that
central banks won’t continue to try and
make it look like they can bring this
under control and currently things
aren’t looking great even Jerome pal has
admitted that inflation isn’t coming
down as he had hoped it would so expect
more inflation fighting measures none of
which are likely to be successful
leaving more room for the gold price to
rise next up Global disarray gold
performs well during times of conflict
economic upset geopolitical
disagreements Wars so considering all
that’s going on I really would have to
make a whole series of videos on global
disarray if we want to do it justice so
let’s just look at the really obvious
for now without doubt the conflict in
the Middle East is driving some people
to be cautious in their Investments and
so buying gold will this change soon
unlikely by the time I’m finished
filming fing it’s likely that Israel or
Iran will have said or done something
else that will caused alarm Bells
whatever has happened it’s unlikely to
have resulted in a peaceful resolution
that means we can all just move on
instead the economic impact of what may
well be a full-blown war will be huge
the Gulf region stands as the preeminent
Global energy producer it holds 48% of
the world’s proven reserves and in 2022
contributed 33% of the global oil supply
furthermore 1 of the world’s oil Supply
passes through the straights of hus
situated at the gulf Bas this strategic
passage serves as the Lynch pin of the
global energy distribution a potential
conflict involving Iran Israel and
conceivably the us could lead to
catastrophic consequences and of course
we shouldn’t forget Russia Ukraine how
much more can the ukrainians take and
really how much more support will the
West be able to provide this is a
situation no longer grabbing headlines
to the extent it was but it is one that
is costing the US economy 97 ,000 a
minute to support and that’s just the US
that’s just in support never mind the
impact on Supply chains and energy
prices meanwhile those countries who are
not at War aren’t exactly a Bed of Roses
either countries that are supposed to be
economic stalwarts are seriously
struggling look at Germany for example
and France they are the two worst
performing economies in the European
Union consider this the bundus bank
recently said that whilst the economy
likely grew in the first quarter of the
year it remained weak at its core so
have these issues issues gone away in
the last few days no they haven’t are
they being resolved no they aren’t so
consider this another pillar of support
for the ongoing climb in the gold price
the final item I want to talk about in
terms of the gold price rally is
uncertainty and of course this is a
tricky one as there is uncertainty
everywhere all of the factors I’ve
already discussed are saturated in
uncertainty but specifically I want to
talk about uncertainty regarding the
government of Nations around 80
elections are happening this year that’s
half of the global population estimated
to be going to the polls to be clear
this is the election year so what
happens this year will set the stage for
many years to come each election adds a
sizable degree of uncertainty and
potential volatility now many might
think that the only ones we need to
worry about is the likes of the United
States or India but the truth is every
election no matter how small the
populace will have a butterfly effect in
terms of how Wars are played out how
trade is managed and how currencies are
managed even down to how the birth rate
looks in the coming years this is huge
one teeny thing to bear in mind is that
India is currently in the midst of a
44-day election process usually local
gold demand is significantly dampened
during this time but I wouldn’t worry
too much on the impact on the global
gold rally it’s not like India is the
only country with an election going on
and that the world has nothing else to
worry about so the gold price rally
where does this leave us what if all of
these issues get resolved it’s unlikely
and certainly not before gold does
something even more impressive and
consider this the gold price is doing
doing well against this whole backdrop
and it’s a backdrop that isn’t even
considered to be that bad in the most
recent World economic Outlook the imf’s
chief Economist Pierre Olivier ginas
explains that the recent performance of
the world economy has been better than
they had expected this is despite all
that’s been going on he writes despite
many gloomy predictions the world
avoided a recession the banking system
proved largely resilient and major
emerging market and developing economies
did not suffer sudden stops in finance
so in all we haven’t seen huge inflation
shocks and the world economy has overall
performed better than expected so
consider that the world’s leading
economic and manitary institution is
saying things have gone better than
forecast and the gold price is still at
an all-time high things are confused to
say the least so what happens next is
the Middle East set to resolve things
overnight will Russia pull out of
Ukraine will Germany’s economy
strengthen overnight will the US
election have zero impact on the world
will inflation just disappear will Val
in our monetary system be restored no no
no and no Gold’s traditional status as a
safe haven asset shines particularly
bright during periods of heightened risk
and confusion and we are in one of those
periods however its versatility as both
an investment and a consumer product
positions it to yield positive returns
even during favorable economic climates
we fully expect this Duality to persist
driven by ongoing political and
economics uncertainties as well as
concerns surrounding equity and bond
markets so in conclusion do we expect
the gold price to continue to climb yes
we do and if you are now wondering how
to buy gold then I suggest you head to
gold cor. comom or click on this video
here to continue the rest of your gold
investment Journey

In this video, we delve into the question on everyone’s mind: Will #gold prices keep rising in 2024? Join us as we analyze the factors influencing the #goldmarket and discuss whether the current rally will persist. Stay informed and make informed decisions about your investments in the precious metal. Watch now to stay ahead of the game!

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