Gold Prices Reach $2,400/oz, Silver Hits 3-Year High | How High Will Prices Go? | The Gold Spot
Many questions have arisen in the minds of investors following the unprecedented surge in #goldprices: Is it too late to buy gold? How much higher will gold prices go? What’s causing the gold and silver rallies? Answering these questions requires a look at what’s happening in the broader market.
#Gold seemed unbothered by the worse-than-expected March CPI numbers as it notched another record close to $2,400/oz mid-week. On Friday, April 12th, 2024, the bullion spot price of gold briefly broke through the $2,400/oz barrier (intraday) due to safe-haven demand. Following gold's unprecedented rally, market experts are adjusting their 2024 gold price forecasts.
Although the US economy is under the microscope, China is behind the most recent gold price surge. The Bank of China is leading the massive central bank demand for gold bullion amid global de-dollarization.
The combination of a weakening US dollar, geopolitical instability, and a shifting world order is forcing countries away from the USD-dominated status quo in favor of physical gold bullion. Unfortunately, the US isn’t following suit, with its gold reserves remaining virtually unchanged for a decade.
Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Founder Eric Sepanek and Precious Metals Advisor Brian Conneely explain the forces behind the gold (and #silverprice) rally, where the yellow metal is headed next, and why it’s not too late to #buygold or #silver for long-term success.
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📈 Gold Price Forecasts 2024: https://www.sbcgold.com/gold-price-fo...
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🪙 Get Gold and Silver Coin Prices:
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⭐ @sbcgold Precious Metals Advisors in this The Gold Spot video:
👤 Brian Conneely: https://www.sbcgold.com/about/brian-c...
👤 Eric Sepanek
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