The London Bullion Market Association’s annual event has taken place this week, with the overriding sentiment that gold prospects in the long term are undeniably bullish. Citing strong demand for physical gold, industry experts at the conference say that all indicators point to prices spiking, with many saying the peak of interest rate hikes will mark the beginning of the next bull run.
Speaking at the conference, portfolio manager and panellist Darren Botha said that the Federal Reserve’s approach to rate hikes was expected to run out of steam when it became apparent that it wasn’t succeeding in driving down inflation. At that point, expect market conditions to turn highly favourable for the precious metal. He explained, “The central bank will not be able to get interest rates up to where they need to be to get inflation under control. When rates eventually peak, that will be a good environment for gold.”
Don’t wait for prices to increase before adding gold to your portfolio. Act now to take advantage of the current favourable conditions.
