Wisdom Tree Gold forecast: all-time highs are still possibleKitco's Rajan
Wisdom Tree's Head of Commodities and Macroeconomic Research, Nitesh Shah has analyzed the Fed's latest movements and the general macro picture and posted a downward revision for the yellow metal in his latest research note.
"With the Federal Reserve maintaining a hawkish tone, bond yields have risen, and the US Dollar remains strong. As a result, we have edged down our gold forecasts, but the risk of central banks overdoing it could send gold soaring, especially if inflation remains high while economic growth is hurt."
"...On a positive note, Shah noted "We have observed that gold is holding up well relative to bond markets...Gold is an asset that generally performs well in adverse economic and financial conditions. With fears of a recession rising, investors are increasingly turning to gold as a hedge."
Reference: https://www.kitco.com/news/2022-06-10/Wisdom-Tree-has-revised-its-gold-forecasts-but-still-thinks-all-time-highs-are-on-the-cards.html
So with all the sideways movement & consolidation of bullion prices, Gold may be "Busting Loose" shortly. Take advantage of these dips and Eldorado gold stock and Buy low Sell high.
Cheers to the patient gold miner investors