Has The Price Of Gold Gone Up - What will happen to the gold price in 2022? Gold is the most valuable asset in times of inflation. But with inflation at its highest in 30 years, it's not going anywhere. Dominic Frisby explores why and sees what will happen to gold prices in 2022.
Today we consider gold. Metals that the world loves but are not interested in investing What will the trend of gold in 2022 be?
Has The Price Of Gold Gone Up
See what he does not what he said It is one of life's most useful sayings. Actions speak louder than words Gold is one of those investments where words and actions conflict.
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I have invested heavily in both physical mining and gold mining. However, my words are more different. especially in the past year which general readers will know well I guess there's years of untapped potential.
As i said The problem with gold is that it is the last analog asset in a world where all value is digital. This is especially evident from the technological boom we have seen in the past decade.
But I always say the time will come. And that time might be 2022.
In my forecast earlier this year I said gold will rise above $2000 an ounce. Yesterday's action brought that magic number closer and closer. Gold and all other precious metals have a good day.
A Turnaround In Gold In Relation To The Indices
Silver has been advancing several days ahead of other precious metals. This is a good sign: Silver is the most speculated precious metal. And when it's going well, it's going well - it means capital is coming into the market.
The $1,800 area is a magnet for gold. since last summer any advance Anything made of gold quickly ran out. And gold returned to the $1,800 area.
But likewise Gold sales are interrupted. And soon the move below $1,800 disappeared. And gold quickly rebounded.
The result is what technicians call "boiling." The tighter the ring around the $1,800 area, the more pronounced the final spring rises and falls. hope it will happen
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On the one hand, I see price action over the past two years resembling the gold pattern that prevailed after the worrying highs of 2011. This led to a terrible bear market for many years. I've circled these in red.
On the other hand, I've seen cup and hand patterns that have been followed over the years. I have highlighted this in green. I hope this is clear in the table below.
The formation of cups and handles in price action is a cup-like formation. with the cup handle on the right It is a very popular style, especially when it has been followed for many years, as is the case with gold.
Many have seen, for example, the Bible. And there are many people who see them as mumbo jumbo. But it's useful.
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Back to basics The most obvious is inflation everywhere: the UK inflation rate is 5.4%, the highest in 30 years, while in the United States it is 7%; It's 5.2% in the EU and very hot in Latin America.
Gold is the most valuable asset during inflation - see 1970s data, except that this latest wave of inflation has been known for months. if not many years and gold is not traded normally Descriptions may vary.
Yesterday I was talking to my old friend James Turk, founder of Goldmoney, about his new book Money and Liberty: In the Pursuit of Happiness & The Theory of Natural Money.
It was one of the first books. which I read about investing in 2006 and I still think it's the best)
Warning: “once Your Gold Is Gone; It's Gone.”
James is one of the most knowledgeable figures in the gold world and he said of gold in 2022, “Inflation tightens the global economy as central banks hoard money to cover government deficits. gold will higher next year as people inevitably turn to gold to maintain the purchasing power they gain and save. Just as it has been since the 1970s, I remember."
So how will the government respond to this inflation? They will lower interest rates. Tighten monetary policy, shrink the state, and reduce spending? They might charge a bit more - if it's just for praise points, but 5%, 6% or 7% rate? no chance!
And there is no chance that they will diminish the rest of their activities. So we will remain in a negative real rate environment.
It is more likely that they will "correct" inflation by tightening controls. We've already heard that President Joe US Biden And Vice President Kamala Harris blames inflation on traders, suppliers and greedy companies. Instead of blaming the Federal Reserve
Gold Silver Prices Today, November 22: Gold Rates Reduce Slightly, While Silver Gains Value
In the 1970s we saw price controls. rent control and even controlling profits in the form of tax windfall in the UK Governments are looking to intervene in energy markets by paying energy suppliers to protect consumers from price increases. Do you think that if the government pays those suppliers? Aren't they going to raise prices any more?
So there are a lot of 1970s movie soundtracks.
I also spoke to Ross Norman, the top contender in the annual forecast competition run by the London Beer Market Association (LBMA). He, like me, thinks gold should go faster and faster. because of all inflation
Ross predicts - and I've rounded his numbers - that the average price this year is $1,760 for gold and $21 for silver. with platinum sitting at $1,070. That said, I spoke to him before yesterday's move - and he will probably revise his forecast based on what happened.
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The price of gold had already skyrocketed before the COVID-19 pandemic. And the conflict in Ukraine has sparked investor interest in the yellow metal.
Gold Prices Look To Post Biggest Annual Rise In 9 Years
Today, gold once again showed its true potential. Thanks to a number of key drivers that are playing a role right now.
After the Russian invasion of Ukraine Prices of fuel, energy and commodities in the US and Europe hit record highs. Affecting consumer confidence and retail sales
Additionally, the COVID pandemic has eroded the economy's ability to produce goods and services at fixed prices. Increase inflation and inhibit growth Two indicators that indicate the situation is ripe for deflation.
And in the current market environment There are a number of factors that suggest gold will benefit again.
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This is different from risky assets such as stocks and cryptocurrencies. Gold has survived a financial market slump through 2022, proving once again its role as a hedge against inflation and market volatility.
As you can see Only gold will hold its value in 2022 apart from commodities whose prices are rising due to inflation. supply chain crisis and the war in Ukraine All other major investments fell at an alarming rate.
If your portfolio includes riskier investments (stocks, cryptocurrencies, etc.), now might be a good time to balance the assets that perform best during deflation: gold and metals. valuable
After the spread of the COVID-19 virus and Russia's invasion of Ukraine Investors are rushing to the safety of gold. Pushing the price of gold to a new record
Gold Rate Today (24th November 2022), Gold Price In India
According to the World Gold Council, in 2021, the demand for gold bars and coins reached 1,124 tonnes, which is the highest.
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