According to Morris' assumptions, the yellow metal, with its price, should reach 7,370 USD per troy ounce by 2030. This allows us to make some important assumptions about what the price of gold will do in the coming years. In addition to this expected “turn”, there are other unavoidable realities that should presage an increase in gold prices. Gold and inflation also work together, since inflation is one way in which money can devalue quickly, and when this happens, people prefer to keep their money in something that increases in value rather than in something that increases in value, such as gold.
Given the cyclical nature of the markets, the upward movement in gold prices is likely to remain intact for several more years. In the short term, the negative impact of these trade tensions has only caused a modest response from the price of gold. Of course, there are factors that must be considered for long-term gold price forecasts that are often unpredictable, such as mining supply or geopolitical tensions. Any forward-looking statement regarding the forecast of the price of gold should not be used or interpreted as investment advice.
Gold is now retreating from its highs, but it could be forming a bullish flag pattern that could cause prices to rise much higher. Currently, the price of gold is rising because there is a clear need to invest in a safe haven, enet. I use a combination of technical analysis and observation of market fundamentals to make my predictions about the price of gold. Investing in gold has never had a better time to start than right now, the price is about to skyrocket, but participating in the trading of such a product can be difficult due to its physical nature and the exclusivity of many gold brokers, who are not as open to new traders.
For example, India consumes between 800 and 850 tons of gold annually and rural India accounts for 60 percent of the country's gold consumption. This was known as the gold standard, but in 1971, the President of the United States, Richard Nixon, asked the Federal Reserve to stop respecting the value of the dollar in gold and to end its primary use as a monetary value and helped make the asset more of a store of value. There are many factors, of course, that could affect the price of gold both in the short and long term, he said. Since gold is also considered a very effective portfolio diversifier due to its low and negative correlation with major asset classes, it tends to rebound in times of uncertainty, so one of the factors to consider is the relationship between gold and other asset classes that feel pressure or pleasure in current financial circumstances.