We have seen gold race to two new record highs within the last week – but the bulls have a lot more left in the tank according to one analyst, who says that £2,034 (+20%) per Troy ounce is on the cards.
Brokerage firm co-founder, Carley Garner’s analysis indicates that a huge break out is coming, with the bulls building momentum while remaining undervalued. She said, “I Think gold is going much higher; my weekly charts and monthly charts are telling me somewhere around £2,034, maybe even a little more than that.”
The recent rally is just the start of a push higher for gold prices Garner indicates, noting that we haven’t really even scratched the surface of what’s possible. “Now it’s Gold’s turn,” she says. “There’s a lot of COVID cash out there that is still working its way through the system. We’re not done with all that liquidity.”
What’s more, now is the time to buy. Garner says that the stock market is emitting danger signals and geopolitical risks are rising, all of which are highly favourable for gold. “You still have an opportunity to buy gold at a reasonable price,” she urges.
“This market hasn’t done anything yet. Everyone’s talking about rising inflation and geopolitical risks. We have all these things going on and gold just could not get out of its own way. Well, guess what? Gold is finally starting to react. These risks are only going to grow. But Now people are going to say, wait a minute, we need some protection, so gold still has some catching up to do.”
Based on this analysis, even at today’s prices gold is nowhere close to hitting a price ceiling. Don’t miss your chance. Buy now.
