As Tensions In Russia & Ukraine Rise, The Price of Gold Is Set For Takeoff
Experts and analysts alike have been insisting and predicting that an increase in the price of gold will happen, and it seems likely that this can happen very soon. With war on the rise between Russia and Ukraine, every country is trying to safeguard themselves, as well as find common ground between the two countries to resolve their differences. Inflation is at an all-time high as well which has taken a toll not only on our economy but also on our livelihood. The fact that President Biden has sent troops to settle the Russia-Ukraine differences, and with more troops on the way, we as taxpayers will feel the economic strain even more. Gold experts are stating that this is “the perfect storm” for the price of gold to skyrocket.
Chief market strategist, Chris Vermeulen, indicated that 2022 is the year that commodities and gold mines will outperform the broad equity index. The markets are predicted to go into another “frenzy” as it had done in 2020 when the pandemic first broke out and sent the market into a sell-off mode. In this time, gold ultimately rose to new heights and gave investors a reason to turn to precious metals. Investors such as Warren Buffett who had never given gold a chance before began investing heavily into the precious metal as it grew his portfolio during the heaviness of the pandemic. With war, inflation, and our economy fighting an uphill battle, gold is going to be heavily allocated once again by investors. The projection for the price of gold is set to be around $2,700 within a year, and be up to $7,400 in the next five years. This may become a reality with all the turmoil currently going on.
The best move any investor can make at this moment is to start investing in gold. With gold breaching the $1,900 per ounce mark, and holding steady, the future is growing brighter for the precious metal. Education on investing in gold and becoming a more savvy investor is very important, and at Allegiance Gold we pride ourselves on educating our clients on the importance of portfolio diversification. Our executives have the highest standard and will be able to send you a FREE Gold IRA Guide. Call 844-790-9191 for more information on how you can protect your hard-earned assets in an impending time of economic uncertainty.