Will Gold Hit $5,000 Before 2030? Plus Bitcoin Correlation
Gold’s spot price has hit a new record high. $2,059.09 at the time of writing this.
Coronavirus, economic uncertainty, a weakening USD and the multiplication effect of central bank monetary supply all have a hand in boosting the precious metal. So, where else does the price have to go? Other than up, up and away…
The cool thing about the price of gold increasing is the many investing/trading avenues you can go down: There is the commodity itself, futures, junior miners, etf’s, related precious metals (i.e. silver), etc.
If you take the all-time high set back in 2011 and then take the ratio between gold and silver. Silver should be looking at a price target of around $46. Something to keep in mind.
Gold is up more than 30% just this year. So, the question is can it go much higher?
Watch the full interview to see whether gold could go a lot higher than what analysts are saying… Plus with bitcoin marching along to USD$12,000, is the cryptocurrency worth another look?
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