Adam Rozencwaig, managing partner at Goehring & Rozencwaig, recently spoke to Investing News Network about the current situation in the gold market and the reasons his company has started investing in the yellow metal after a long pause.
For a while, Rozencwaig and his firm were bullish on gold but then spent the past few years staying out of this market. Now, the expert believes that the signs are there to return.
During the interview, Rozencwaig named two factors that made his company leave the gold market in 2020. The first was the more bullish outlook in the oil market, and the second was that silver was performing just as good as gold. In the past, whenever silver caught up with gold, it signaled a general cooling; on top of that, oil had never been so expensive in gold terms, which gave the energy market a serious advantage.
Now, however, things have changed: Q3 or Q4 of 2022 marked the start of a new bullish phase for gold, triggered by the policies of major central banks. Adam Rozencwaig believes that the price of the yellow metal can rise higher than it is now.
Meanwhile, National Investor Publishing founder Chris Temple also gave an interview for The Investing News Network, and shared his own views on gold’s outlook.
According to Temple, three factors will help the price of gold grow further, just like they did back in 2008. The first is a change in the Fed’s policy, which – he believes – should happen. Instead of just taking a break in its hawkish interest rate course or saying that it’s considering such a step, the Fed will have to stop raising the interest rates; admit that they have stopped it; and announce that they are going to support the economy instead.
The second factor will be a further economic slowdown after the Fed changes policy and starts printing money. The third will be for investors to see that there are no other alternatives to gold.
Temple believes that we will see all three come true, though not simultaneously and not necessarily very soon. But it will be months, not years.
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