The investment opportunity of the year is taking place right now – and if you’re reading this, you won’t want to miss this opportunity to add gold to your portfolio.
In the last 24 hours, the Federal Reserve confirmed that it could see higher inflation and outlined an updated version of its dot plot projections, based on the latest available economic data following its scheduled meeting on Wednesday. The outline suggested that the Feds could consider increasing rates in two years time.
Despite 2023 being a long way off and this expected course of action subject to an array of economic factors (many of which we know will fluctuate and be impacted by continued Covid-19 disruption) the news gave the struggling US dollar a boost and saw the 10-year U.S Treasure yield climb after a period of decline. The inflation forecast for this year was revised upwards one point, elevating from March’s 2.4% to the present reading of 3.4%.
The announcement saw gold fall back to price levels of around £1,266- £1,273 ($1,770- $1,760) to create the strongest buying opportunity of the year to date. Now is the time to move quickly however as this pullback is widely considered to be overdone and it’s expected that the precious metal will resurge.
The Federal Reserve Chairman, Jerome Powell went as far as to say that his agency’s dot plot should be taken with a “big grain of salt” signalling that even the Feds are sceptical about the forecast. In addition to this big red flag, industry experts also expect the knee jerk reaction to be fleeting. This drop is exceptionally good news for those able to act quickly and grab one of the year’s best bargains before price corrections kick in.
The Commerzbank analyst Carsten Fritsch said that he expected gold to rebound explaining that the pullback was unjustified given the very uncertain nature of the forecast. He said, “Rate hikes in two years’ time are too far off to warrant any such slump in price, especially as yields are well below the expected rate of inflation.”
Don’t miss this incredible opportunity. Buy now.