Gold Price Outlook For 2021: Move Toward $3,000 Very Likely

gold price

Gold Prices Up in 2020 & Could Go Higher in 2021

2020 has been a great year for gold investors; year-to-date, gold prices are up by a little more than 20%. But 2021 could be even better. If you haven’t been paying attention to the yellow metal, there’s still some time before it’s too late.

Don’t be shocked if gold prices make a strong move toward $3,000 per ounce in 2021. And if this happens, investors could expect immense returns from gold mining stocks.

Why such a bullish outlook on gold (GLD)? It’s very simple: there’s never been a time when the case for owning gold and gold-related investments has been this strong.

Remember, gold is one of the best hedges against currency devaluation, wealth destruction, uncertainty, and volatility. The yellow precious metal has from time to time proven that it really works this way. It possibly has one of the longest track records of doing so among all other asset classes.

Mark my words: we could be headed into a period when currency devaluation becomes prevalent and a lot of uncertainty follows.

Have you seen what central banks and governments have been doing around the world? It almost seems as if they’ve forgotten basic economics.

Governments have been spending without remorse for years, and since the pandemic began, they’ve increased spending multiple times. During the past decade, when we had a relatively stable economy, they spent money hand over fist and incurred massive debt loads. Now the situation is a lot worse.

Take the U.S., for example: the country’s gross domestic product is about $20.0 trillion while the national debt is about $27.0 trillion.

Governments could certainly borrow a lot in the near term to pay for expenses at hand, but the money they borrow has to be paid back eventually. One must ask: If the debt load continues to go higher, will governments be forced to implement austerity measures down the road? It’s possible, and austerity creates a lot of issues.

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Disclaimer: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and ...

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