"[hot] tomorrow! The grand annual meeting of the metal industry will begin! Come and watch the business cards of the guests.
SMM News: since last year, the gold market began to rise sharply, and this year, due to the impact of the epidemic on the global economy, gold rose even more sharply, breaking through the $2000 mark and reaching a record high. Harry Dent, founder of HS Dent, said gold could rise for another wave, hitting the $2200 / oz mark next year, but then it would start to decline.
"the price of gold will hit a new low after 2022, but it will also be an opportunity to buy on the bargain. After that, I will buy gold because gold will perform better than most other commodities. "
Dent said that next year, as more stimulus comes, the crisis will brew and gold prices will rise to the target of $2200 an ounce.
"2200 will be an important resistance level in the coming months, but then it could fall sharply to a low around $1000 an ounce in 2015."
Dent believes that inflation will not improve next year, and even deflation may put pressure on both the stock market and gold prices.
Under the influence of deflation during the collapse of Lehman Brothers in 2008, the price of gold fell 33% and silver fell 50%. In the financial crisis, gold did not show the function of safe-haven assets, so this time, deflation will push the price of gold down to the level of $1000 / oz. "
Dent said it could take some time for inflation to return.
"you may not see inflation for a long time, and you don't have to worry about it for the next year or two."
In the long run, however, the price of gold will pick up as inflation returns.
"Gold, as the leader of precious metals, is likely to be the strongest in history in the next commodity cycle because there will be a lot of demand for commodities from emerging markets."
In this case, it is not impossible for gold to hit the $5000 / oz mark, but that will not happen until 2038.
