Legendary Investor and Analysts Predict Gold New Highs of $2,100

Byron Wein, the vice chair of investment giant Blackstone’s private wealth solutions group, recently announced his prediction for a 20% rise in gold, taking it to a record high of more than $2,160 an ounce.

The cause? Protection against inflation and market volatility.

Wein also called that new billionaires are likely to invest in gold.

Gold had been on a bull run in the years leading up to 2020, it spent most of last year chopping around sideways, except for its correction at the beginning of the year.

In 2020, gold had set a new all-time record high when it broke above $2,000, nearly reaching $2,100.

Now, nearly two years later, gold sits around $1,800 an ounce (at the time of writing), which some experts believe could be the moment right before gold blasts off to test its previous all-time high of around $2,100 or even higher.

David Lennox, resource analyst at Fat Prophets, feels that inflation and the weakening of the U.S Dollar are just two of the many factors that will cause gold to revisit $2,100.

Lennox recently made the following comment regarding gold’s possible price action in 2022 in an interview, stating:

“We do think across the course of 2022, we will see the gold price testing at the all-time record highs…”

Last November’s inflation numbers made headlines as some of the highest levels we’ve experienced as a nation in nearly 40 years.

Unfortunately, the numbers for December, according to the Labor Department released data showed the consumer price index surging to 7%.

And there are no signs of it slowing down.

Another condition that may help to support a bull run for gold is geopolitical tensions between significant military forces.

Lennox believes that Russia’s building military presence planted at its border with Ukraine could “quickly turn into something disastrous.”

“If that happened, then we would see the gold price reacting quite significantly, and our … $2,100 an ounce [target] would probably get here sooner rather than later,” he stated.

Many investors and analysts have been calling for a continuation of gold’s bull run after a year of consolidation and probably won’t think differently until signs of improvement can be seen – who could blame them?

We all work hard and make sacrifices in order to build our savings, investments, and retirement accounts, and we should work just as hard to protect them.

Economic downturns are inevitable; being blindsided by them to the point where decades of savings and retirement funds are wiped out is not.

It’s time to create a plan. Call American Hartford Gold at 800-462-0071; we can help.

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