Gold prices will soon hit a staggering new high of £2,279 ($3,000) says TD Securities. The Canadian bank’s head of global strategy predicts this record price level on the back of runaway inflation and ever tougher global sanctions on Russia.
Bart Melek said, “The Fed is going to be in a difficult situation policy-wise [dealing with inflation]. If they get aggressive, does that really help inflation? Not really. The supply shock is there. Inflation impact from higher rates would be later. And there is already a negative supply shock, so it might not be wise to do this. The Fed’s tightening won’t be near enough to cause real rates to move up sharply. And therefore, gold is going higher. When I adjust it [gold prices] for inflation, it is at £2,223 ($2,927). That’s the record high if you adjust it for inflation.”
Don’t delay. Buy now.
