Forbes: Gold “Set to Soar” in 2019

Forbes: Gold “Set to Soar” in 2019

Original article written by Frank Holmes and published January 14, 2019 on Forbes.com.

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One of the reasons we recommend gold as an investment in times of financial turmoil is because of its countercyclical nature – gold tends to gain in value when stocks lose value. Only now that stock markets are starting to show signs of weakness is the mainstream media finally picking up on that.

More and more analysts are starting to come out of the woodwork and project major gains for gold in 2019. Major Wall Street investment bank Goldman Sachs has even upped its prediction for gold’s price in 2019, increasing its forecast from $1,350 per ounce to $1,425 per ounce. That puts Goldman Sachs in line with the World Gold Council, which also predicts a rise in the gold price.

Among the reasons gold will soar in 2019 are:

  • Greater amount of defensive buying and hedging by investors;
  • Growing demand for gold for portfolio diversification; and
  • Slower pace of Federal Reserve interest rate hikes boosting gold demand.

According to Bloomberg commodity strategist Mike McGlone, the downtrend in the dollar’s value in 2019 “has legs.” That’s an additional benefit for gold, as a weakening dollar tends to see investors moving into gold.

Of course, the best time to invest in gold was always yesterday, before the price increased. Investors who invest in gold today will reap the benefits of gold’s price appreciation this year as stock markets continue to sink. Don’t be left on the sidelines wishing that you had invested in gold when it starts to soar.

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