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Trade Ideas: Technical Breakout and Soaring Demand Make Gold a Sure Bet Amid Rising Inflation and Geopolitical Risks

With the War in Ukraine Heating Up Following Last Week’s Russian Invasion and With Inflation Fears Already at a Multi-Decade High, the Resulting Surge in Uncertainty Has Global Financials Markets Experiencing a Sharp Rise in Volatility, Sending Investors Scurrying for Safety Under This Shiny Yellow Metal

As has been the case throughout history, uncertainty in the markets has almost always led to investors pouring money into Gold as a safe haven or as a hedge against turbulent equities.

Currently, that’s seems to be precisely what’s happening as the recent surge in buying has seen Gold experience a massive bull pennant breakout on its 5-year technical chart. Typically, the longer a technical chart pattern takes to materialize before breaking out, the more it can be relied upon as a trend following continuation signal. Gold’s long-term breakout confirmation, combined with the fact that the current market uncertainty could be here for a while, has created a scenario where investors could see Gold prices skyrocket to over USD $3,000 by next year.

Source: Shutterstock and Barchart

???? Also Read: As Stocks Tumbled, the World’s Largest Gold ETF Saw Record Buying Demand

In fact, the experts at PrimeXBT have provided the following multi-year forecast on the price of Gold:

  • 2022: $3,000 | +54.54%
  • 2023: $3,449 | +77.67%
  • 2024: $4,721 | +143.2%
  • 2025: $5,012 | +158.19%
  • 2030: $8,732 | +349.82%

* Above Gold prices are in USD. Implied potential % gain based on the current 01/03/2022 Gold price of $1,941.20

The potential gains listed above make owning gold that much more attractive for an asset that’s always been viewed as a safe-haven store of value.

For those new to gold investing, there are essentially a few ways you can go about adding gold to your portfolio, which we’ll outline for you below.

For More Information, Click Here to Check Out Investopedia’s Gold Buying Guide

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Disclaimer: The Editor of Wealthy VC holds a long position in GLDM and BAR. The Editor also owns physical gold bullion.

Ryan Troup

Ryan Troup is the Editor in Chief of Wealthy VC and TCI. Ryan has 15+ years of investing experience. Twitter | Email

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