Gold prices are gearing up for a really big move higher as the global economy teeters on a cliff edge of inflation, according to the former managing director of American investment bank, JP Morgan, Jon Deane.
Deane is bullish on gold and expects that gold will move much higher than last year’s record £1,440 ($2,000), likely reaching £1,584 ($2,200) before the end of 2021. He says that inflation is already increasing – something which is a big bonus for precious metal. “We are already seeing inflation. If you look around the world, you see real estate prices, building supplies, and services skyrocket. What we created since the early 1990s is an entire financial infrastructure that is relying on debt, and we have accelerated that dramatically in our response to managing the COVID-19 crisis. In that regard, we will continue to increase the money supply globally, and we will continue to have a quite aggressive fiscal policy. We are sitting on an economic cliff.
“We’ll see a real big move in gold. We’ve taken a lot of the length out. We are in a real position to move higher. We’ll go well north of $2,000 this year. Realistically, $2,200 is probable. It may have some headwinds as we go through $2,000 again. Gold is in a much better position than where it was a few months ago.”
With incredible potential on the table and gold gaining momentum as inflation increases, now is an opportune moment to invest in the precious metal. Act quickly, buy now.