08.07.201912:09 Forex Analysis & Reviews: Gold record holder: by 2021, the precious metal will rise in price to $ 3000

According to the calculations of one of the leading financial analysts and the founder of Gold Stock Bull Jason Hamlin, the value of a popular safe asset could grow to a fantastic $ 3,000 per ounce by 2021. Many experts believe that there are prerequisites for this. However, some analysts are more cautious in their forecasts and predict gold prices in the range of $ 1,900 in two years.

According to experts of the global market of precious metals, the price of gold has entered a long-term growth trend at the moment. Consequently, the price of the yellow metal will rise. Experts agree that gold has finally broken through the upper level of resistance in the range of $ 1,365 to $ 1,375 over the past few years, reaching the psychologically important level of $ 1,440 per ounce.

According to J. Hamlin's forecast, the yellow metal is waiting for a few weeks of consolidation ranging from $ 1,380 to $ 1,440 per ounce. After that, the analyst confidently states the likelihood of a sharp jerk. He draws attention to the current "bullish" cycle of the gold price. The experts, have analyzed the previous "bullish" cycle and came to the conclusion that it contributed to an increase in the price of gold by 660%, from $ 250 to $ 1920 per 1 ounce, in just ten years. If the current "bullish" trend brought the same price increase in the price of precious metals, it would have increased 7.6 times from the low of 2015, equal to $ 1050 and $ 7980 by the end of 2025. The forecast of J. Hamlin, unlike the calculations of other analysts, does not look so unattainable. He is confident that the price of gold by the end of 2025 will vary from $ 4,000 to $ 8,000 per ounce. The cost of the yellow metal in the near future, that is, by the beginning of 2021, will be in the range of $2050 to $2950 per ounce, sums up J. Hamlin.

Recall that last month, the "golden" rally has started, when participants in the global market realized that the US Federal Reserve will change the previous monetary policy and reduce rates in 2019. In the current situation, investors have turned gold an asset, a "refuge" able to withstand the volatility of the stock market and the increased likelihood of a financial crisis. Experts believe that the acceleration of global de-dollarization, the growth of the level of corporate debt, as well as the escalation of trade conflicts are prerequisites for it. In this situation, the further increase in the price of gold is predictable and fits into the current trend, experts believe.