Connect with us

Hi, what are you looking for?

Economy

Chris Blasi: Gold’s Price Move is Real, Long-awaited Returns Coming

The gold price has risen to historic highs, but some market participants still aren’t sure if the move will stick.

Chris Blasi, president of Neptune Global, shared data that he believes validates the yellow metal’s uptick and confirms that it has much further to run. In his view, gold is in the third leg of a secular bull market that began in 2001.

The data that Blasi discussed relates to Neptune Global’s PMC Index. Created in 2008, it tracks gold, silver, platinum and palladium, weighing the four precious metals according to what the company views as a balanced investment portfolio.

‘Here we are in 2024, and for the first time since this index has been available, gold is now outperforming the other metals. What this is telling me is gold is breaking out — the money is moving more to gold,’ Blasi said.

‘The economy is slowing down, probably because the industrial metals are easing off in price, and the interest is more in the properties of money, which is what gold is. If you overlay that with what we see going on in the world geopolitically, macroeconomically — that’s what I believe is supporting (gold) and telling us this is the time to be into gold,’ he added.

He acknowledged that some investors may not want to buy gold now that the price is so high. However, given how much the precious metal could rise in the coming years, it may be better to act now than to wait.

‘That would tell me it’s still a very opportune time to get in, and that gold is probably going to be seeing in the next several years some of the very aggressive price targets that some well-respected analysts have put out there — we’re talking US$3,000, US$5,000, US$10,000 (per ounce) and possibly more,’ Blasi explained.

Watch the interview above for more of his thoughts on gold and its most important price drivers in 2024, from the US Federal Reserve to geopolitics. Blasi also discusses the silver, platinum and palladium markets.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

You May Also Like

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com