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Logistical and supply-chain problems continue to create a liquidity situation in the gold market, yet Will certainly Rhind, CEO of GraniteShares, claimed that there is enough supply of the rare-earth element to meet need, at least for now.
However, he likewise added that there could be much more supply problems in the long-term as the COVID-19 pandemic is affecting mine manufacturing. Taking a look at rates, Rhind said that the supply issues coupled with expanding financial investment demand as government and also reserve banks flooding markets with cash money will continue to drive gold prices higher via 2020.
" I think if we recall to what happened in 2008 and also what is taking place once again. After that we almost certainly will see a new all-time high in the gold price at some point, if not this year, then I think next year," he said.
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There is enough gold supply to meet demand…for now – GraniteShares
Logistical and supply-chain issues continue to create a liquidity crisis in the gold market, but Will Rhind, CEO of GraniteShares, said that there is enough supply of the precious metal to meet demand, at least for now.
However, he also added that there could be more supply issues in the long term as the COVID-19 pandemic is impacting mine production. Looking at prices, Rhind said that the supply issues coupled with growing investment demand as government and central banks flood markets with cash will continue to drive gold prices higher through 2020.
“I think if we look back to what happened in 2008 and what is happening again. Then we almost certainly will see a new all-time high in the gold price sometime, if not this year, then I think next year,” he said.
__________________________________________________________________
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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