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Gold has the potential to double when the Federal Get starts to tighten up and trek prices to fight off hotter-than-expected inflation, claimed Peter Boockvar, chief investment policeman at Bleakley Advisory Team.
" If you rising cost of living readjust gold for its 1980 high, it can most likely to $2,500, it can overshoot $3,000 plus," Boockvar informed Michelle Makori, editor-in-chief of Kitco News. "Silver … can get back to its highs of $50 plus. Call me one asset that's down 50% from its document high. I can not actually consider many other than silver."
Boockvar is bullish on rare-earth elements because of his inflation as well as slower development overview. "Inflation is not transitory. Which will certainly be one of the most essential thing in establishing the direction of the economic situation and the marketplaces. I do not expect a reversion back to pre-COVID levels," he said.
Follow Michelle Makori on Twitter: @MichelleMakori ()
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Gold price to double as Fed kicks off tightening and economy flatlines
Gold has the potential to double once the Federal Reserve begins to tighten and hike rates to fight off hotter-than-expected inflation, said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
"If you inflation adjust gold for its 1980 high, it can go to $2,500, it can overshoot $3,000 plus," Boockvar told Michelle Makori, editor-in-chief of Kitco News. "Silver … can get back to its highs of $50 plus. Name me one asset that's down 50% from its record high. I can't really think of many other than silver."
Boockvar is bullish on precious metals because of his inflation and slower growth outlook. "Inflation is not transitory. And that will be the most important thing in determining the direction of the economy and the markets. I don't expect a reversion back to pre-COVID levels," he said.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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