Due to the ongoing banking crisis, the probability and brutality of a recession is increasing, according to the founder of Peter Grandich and Company.
Grandich believes that regional banks in the United States will bear the brunt of the banking crisis, and smaller to medium-sized businesses will be adversely affected as a result of stricter financial regulations. This sets the stage for gold to race to new highs.
He said, “I personally have believed since the low £1,295s ($1600s) that gold can make money from capital appreciation. It is going to go to new highs in my view, and therefore it has a substantial upside still, where I don’t see that in general equities. Right now, gold should be first a hedge, and then also I believe it can be played for capital appreciation.”
Buy now.