An enthusiastic trader environment for the financial markets is bullish for gold, with an imminent value hike on the cards for the precious metal according to one industry insider. Mark Bristow says we’re seeing prices follow a similar pattern to the market trends recorded in the aftermath of the 2008 global recession, which can only mean gains for gold.
Speaking during the Prospectors & Developers Association of Canada’s (PDAC) ‘Profits With a Purpose’, Bristow said, “It is similar to post-2008, where the market wished everything would go back to normal but didn’t know the full damage yet.
“The liquidity that was provided between 2009-11 was caught in the banks. This time around, it arrived at the market. We saw a first spike in the gold price; there is another one coming.”
If history is any indication, now is the time to buy.