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Gold will NEVER dip below £1,655 after break says Bloomberg

Respected Bloomberg Intelligence strategist Mike McGlone says gold will never again dip below £1,655 ($2,000)/ oz after it breaks to the upside. The good news is you still have time to add gold to your portfolio before that ceiling is breached, with Bloomberg expecting that a recession will be provoked by the Federal Reserve’s ongoing rate hikes.

“There’s nothing [the Fed] can do but tighten,” McGlone says, “although they should be easing soon…they got stuck in that transitory stage of inflation. I fully expect gold in U.S. dollar terms to break above £1,655 ($2,0000 an ounce and never look back.”

Bloomberg indicates that deinflation will hit around this time next year – at which point we can expect gold prices to soar. Take action now to buy before that ceiling is breached as this could be your last chance to buy below a new record high.

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