Gold Rush In Effect: Gold Prices Could Soar Past $3,000 An Ounce

And, they plan to buy more…

According to the 2020 Central Bank Gold Reserve Survey by World Gold Council, 20% of central banks surveyed said they are looking to increase their gold reserve in the next 12 months. (Source: “2020 Central Bank Gold Reserve Survey,” World Gold Council, May 18, 2020.)

Here’s the kicker: in 2019, when central banks purchased a record amount of gold, only eight percent of them had said they were looking to increase their gold reserves.

$3,000 Gold Could Happen Sooner Than Later

Dear reader, I have been bullish on the yellow precious metal for a while now.

I liked gold back in 2015 when it was deemed a pet rock and was trading for just $1,050. I called it an opportunity of a lifetime.

So far, so good.

At the moment, gold prices trade around $1,950. I continue to see it as a compelling opportunity. The buyers are just starting to step in, and it could take them a while until they are fully allocated with gold.

Gold is still undervalued. If you are not looking at it, you could be making a big mistake.

Gold prices have the potential to soar to $3,000 in the next few years. And 2020 could be the year when we look back and say, “Should’ve bought more at $1,950.” Let me also say this: if it goes lower, it will become an even better opportunity.

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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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