HomeInvesting“Gold Prospects Brightening in 2024: Here’s What To Invest In Today!

“Gold Prospects Brightening in 2024: Here’s What To Invest In Today!

Gold and other precious metals saw an impressive uptick in 2020, driven in part by a drop in the US Dollar and an increase in demand for hedges in the face of a global pandemic. However, according to Brent Cook, a veteran analyst and veteran mining company executive, gold may be in for an even better year come 2024.

In an interview with GodzillaNewz, Cook stated that investors should be keenly aware of what’s working now and what may work in 2024. He pointed to the US Dollar, which has been dropping steadily since 2018, and believes this trend will continue. He also noted that investors should be aware of what is supportive of gold now, such as central bank policy, elevated geopolitical tensions, and increasing debt levels, which should only increase in 2024.

Cook believes that global monetary policies and central banks’ quantitative easing efforts will likely remain supportive of gold and other precious metals in the long-term, allowing gold to continue to benefit from these efforts. In addition, he noted that geopolitical developments, such as the US-China trade war, will also likely remain a key driver for the price of gold.

Cook went on to say that gold’s performance in 2020 has been due to increased demand for hedges against economic uncertainty. He believes that this trend will continue in the coming years as investors continue to seek safe havens for their investments. He added that tighter regulations, such as the upcoming Financial Action Task Force (FATF) regulations, as well as rising debt levels, could also be supportive of gold prices in the future.

Overall, Cook believes that gold has a bright future, with prices potentially increasing significantly in 2024. He suggests that investors keep an eye on what is supportive of gold, as well as the geopolitical landscape and global monetary policy, and should position themselves to take advantage of potential price increases.