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Banking crisis will trigger all-time highs says Bloomberg Intelligence

Bloomberg Intelligence is expecting gold to peak at all-time highs in the wake of the banking crisis triggered by last week’s Silicon Valley Bank collapse.

With the banking sector downgraded from stable to negative by Moody’s as a result, Bloomberg now expects the Federal Reserve will be forced to pause rate hikes, with gold surging through its previous highest price levels to peak around £2,475 ($3,000).

Senior strategist Mike McGlone said, “The banking crisis is part of the economic ebbing tide, and the Federal Reserve is done tightening. Federal funds futures in one year (FF13) show rates dropping below 4% on March 13 after the high close of 5.26% about a week earlier, which was the highest since 2007. Conditions seem ample for gold to head to £2,475 ($3,000).”

In addition to this imminent increase, Bloomberg now expects gold to be the best commodity of the year. This is the time to move quickly. Buy now to get ahead of the highest gold prices of all time.

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