Coming on the back of last week’s enormous window of opportunity, experts continue to urge investors not to miss the chance to buy the dip caused while prices remain attractive for those eager to add gold to their portfolio.
Comments made last week by the Federal Reserve suggesting that interest rates could be increased in the next couple of years prompted a selloff in gold but, those serious about investing should instead see this as an opportunity to buy the dip, given that all forecasts, predictions and indicators peg gold as bullish at least through the rest of 2021 and beyond.
Sprott CEO Peter Grosskopf says the Federal Reserve’s plans are likely to be very difficult to enact and subject to change, given the very real prospect of even higher inflation on the horizon and uncertainty surrounding pandemic recovery. He says those selling off are taking a short-term view which disregards the true strength and value of the precious metal.
He said, “What we have seen is a lot of short-term money move out of the market. The long-term picture for gold hasn’t changed at all; it just gets more and more compelling. We think these fear-driven dips should be bought.
“Can gold prices move £179 ($250) to the upside in a few months? Sure, it can. We have seen that happen many times before. When you look around, everything’s at a record. We are at peak equity markets, peak debt, the Fed’s balance sheet is at a record. That pendulum has absolutely swung as far as it possibly can. That is why the gold market is so compelling right now.”
Buy now.
