09/01/2024
The yellow metal, which is known for its reliability and tendency to rise in price over time, could set a new all-time value record. This opinion was expressed by Florian Grummes, managing director of Midas Touch Consulting.
Here is what he said in an interview with Kitco News: “Since 2011, gold has been in the process of consolidating. However, in order to reach new heights, it needs to break the level of 2,070 dollars per ounce… It is difficult to predict when this will happen – it can take from several months to a year. But over the next two to three years, gold will rise much higher. Technically, it could quickly reach $2,500 and then continue to rise to $3,500 and $5,000 an ounce. This trend took 12 years to form… The potential is phenomenal.”
Such expert forecasts indicate the possibility of a major turning point for gold, which will lead to a significant increase in its price in the near future.
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