A gold industry expert has urged investors to embrace the dip while they can and buy as much as they can as the precious metal is on course for new all-time highs within the next 24 months.
Commodity analyst, Andy Hecht says that the current pricing levels around £1,450 ($1,900) should be looked upon as an opportunity to strategically invest in gold. He forecasts gold will rise above the £1,550 ($2,000) threshold at the start of next year, and will continue to accrue much higher prices thereafter.
Hecht’s comments echo those of Bloomberg Intelligence, suggesting experts are very much in agreement that the only way is up for gold. Hecht said, “I embrace any dip in gold. I want to see lower prices because that means I can just buy more. We are just starting what I expect is the next commodity supercycle, and that will mean far higher gold prices.
“Every currency is in a bear market compared to gold. Regardless of the election, trillions of more dollars will be printed by February and that is going to drive gold prices much higher. You want to have a position now so you can take advantage of the rally. I think holding a large percentage of your portfolio in gold makes absolute sense in this environment.”
The message is clear – act quickly and buy not to capitalise on the upcoming price rises.