GLDM - Recession warnings set to boost gold safe-haven appeal analysts say

A potent mix of decades-high inflation, geopolitical turmoil and growing talk of a global slowdown could pave the way for a fresh push toward $2,000/oz gold, according to speakers at a precious metals conference in Singapore this week, as reported by Bloomberg. "After decades of massive deficit spending and ultra-loose monetary policies, we are heading toward a period of stagflation. In this kind of environment, safe-haven assets like physical gold and silver are some of the best things you can own," Silver Bullion founder Gregor Gregersen said, Bloomberg reported, also predicting gold and silver could rise to $2,000/oz and $26/oz respectively by year-end. Bullion prices are facing resistance at $1,930/oz, but if that level is cleared then $2K could be reached, propelled by technical trading, according to StoneX Group's Rhona O'Connell, according to Bloomberg. But the hawkish Fed, higher real rates and a relatively strong dollar backdrop are among factors that will weigh

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Recession warnings set to boost gold safe-haven appeal, analysts say