Analysts are continuing to predict the outcome of gold this year as the precious metal sets off on the right path over the early days of 2022. Amongst these predictions, MKS PAMP GROUP head of metals strategy Nicky Shiels has suggested that the price of gold could reach new heights considering recent Fed monetary policy announcements.
According to Shiels, it’s likely that gold could see a surge to $2,000 (£1,456) an ounce over the course of the year if the Fed fails to control current inflation rates. If the central bank sticks to its course of incremental price hikes, interest rates will never get beyond the curve, creating an exciting opportunity for gold bulls.
This high price will make gold one of the most in-demand assets of the year, with prices rising to highs not seen before. If you’ve been thinking of investing in gold, now is the prime opportunity to reap increasingly significant rewards.