FINSUM + Magnifi: Why Gold Will Hit $3,000

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August 12, 2021

Diego Parrilla, manager of the Quadriga Igneo Fund, is calling for another gold boom. Parrilla has made successful calls in the bull run-ups in both 2016 and 2020. The fund manager sees a massive stimulus pumped into the economy by fiscal policy and ‘artificially’ low rates as drivers of gold’s climb. He also believes the pace of tapering will be glacial, and that this could push the precision metal to $3,000-$5,000. However, gold has begun to fall since the Fed started talking about tapering. For some, it's hard to make sense of what is going on because Treasury yields are falling and inflation is on the rise, which should theoretically be appealing. Most Analysts are calling for a fall in the price of gold to around $1,700 an ounce over the next few years.

(New York)

FINSUM + Magnifi: Gold's price seems to be much more reflective of the supply issues as of late. Don’t be steered into investing by a swell of macroeconomic news.

Other news today: JPMorgan Says Don't Worry About China and Video Games Earning Season HitsNew call-to-action

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