Gold prices are still on course to hit all-time highs within months, despite any short-term challenges constraining price action, says respected metals strategist, Nicky Shiels. In a new report issued this week, she has remained firmly bullish on gold, calling for an all-time high of £1,622 ($2,100). She also urges investors not to be spooked by lower prices as risk on sentiment returns, pegging the range for the second half of the year as likely between £1,480 ($1,910) and £1,622 ($2,100).
Explaining why gold prices are on course for all-time price records, she noted, “We do expect a bumpy second half of 2023 as monetary policy starts to bite. Gold prices are then expected to print a new all-time-high and pierce £1,622 ($2100). Our conviction lies in higher floors versus runaway upside repricing unless the Fed loses the inflation fight (not our base case) or breaks something more substantial in the economy.”
This bullish forecast makes today a tactical time to buy. Don’t delay. Buy gold now.
