Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Gold Price Reaches New All-time High, Experts Say it’s Not Done

by March 6, 2024
March 6, 2024
Gold Price Reaches New All-time High, Experts Say it’s Not Done

The gold spot price hit another record high, touching US$2,142.30 per ounce on Tuesday (March 5).

Fed interest rate cuts bullish for gold

“That portends very bullish things for not just the metal, but for the associated equities,’ he said.

When asked about Bitcoin, which also reached a fresh all-time high this week, Tiggre said that as a risk asset it’s gaining steam from Fed speculation as well. However, he said it’s probably being impacted more by the approval of US spot Bitcoin exchange-traded funds and the cryptocurrency’s upcoming halving event.

Brien Lundin, editor of Gold Newsletter, echoed Tiggre’s sentiment on the impact that the Fed’s upcoming turnaround is having on gold. “The big picture is that the market is now trying to price in a Fed pivot,” he said.

However, he noted that expectations keep shifting as to when the Fed’s first cut will come, which has caused some volatility in the space. But investors can be rest assured that it will be this year.

“I think the markets are missing the big picture largely, and that’s the fact that the Fed will have to pivot this year because of the cost of servicing the federal debt at these interest rate levels,” he explained. “The Fed will have to pivot and other central banks will follow suit. When that happens gold will do very well.”

When will gold stocks finally move?

With the gold price historically high, market participants are hoping much-beleaguered gold equities are next.

Tiggre agrees. “Gold stocks are still not getting any love,” he acknowledged. “Of course, I see that as an opportunity.”

Gold stock investors have been waiting for their holdings to move for some time, and Lundin said he thinks they’ll start taking off when the yellow metal gets past US$2,150 and demonstrates a clear breakout on the charts.

‘This will draw in generalist money that I think will propel the price to a higher level,” he explained on the sidelines of PDAC, adding that he sees gold reaching US$2,300 this year. “I think the money is going to flow, and I think that will very quickly lead to a big rally in the mining stocks.”

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

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Bitcoin Tests All-Time Highs While Growth Stocks Sag
next post
Bitcoin Price Reaches New Record High, Then Pulls Back

Related Posts

6 Mining and Energy Stocks Make Top 10...

February 22, 2025

Tech 5: OpenAI Restructures, Apple Pursues AI Search,...

May 11, 2025

LQWD Technologies and Bitcoin Well Announce Lightning Node...

May 30, 2024

Helium Evolution Announces Filing of Q1-2024 Financial Results

May 22, 2024

Additional Assays from El Pilar, Cuba

December 28, 2023

Alpha Lithium Files Improved Preliminary Economic Assessment and...

September 22, 2023

​Tech 5: Bitcoin to Complete Halving, NVIDIA Dives...

April 22, 2024

When Will Copper Go Up? (Updated 2023)

October 12, 2023

Impact Minerals Limited

April 19, 2024

Diamond Drilling Commenced at Cork Tree Well

January 16, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • How I Triple My Returns With 3x Leveraged ETFs!

    • How to Find Compelling Charts in Every Sector

    • EVs Now Emit 73 percent Less Than Gasoline Cars Over Their Lifetime, Says ICCT Study

    • Cygnus Metals Limited: Issue of Performance Rights

    • FPX Nickel Announces Share-Based Compensation Grant

    • Blue Lagoon Resources Officially Opens Dome Mountain Gold Mine in British Columbia

    Categories

    • Business (1,287)
    • Investing (2,662)
    • Politics (3,699)
    • Stocks (1,711)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.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 © 2025 moneycontrolplace.com | All Rights Reserved