The gold market has experienced a remarkable surge in 2024, hitting new record highs. The most substantial growth occurred in the third quarter, driven by rising geopolitical tensions and expectations of Federal Reserve rate cuts ahead of the U.S. presidential election, contributing to a weaker U.S. dollar. After over a decade of stabilizing following its dramatic climb from under $300 per ounce to around $1,900 in 2011, gold has now broken out of this consolidation, establishing firm support above $2,000 per ounce. Prominent gold advocate Peter Schiff has highlighted a significant influx of capital into the precious metals market, cautioning that investors waiting for a price dip may miss crucial opportunities. He points out that those who hesitated when gold peaked at $2,100 or $2,200, hoping for a retreat to $2,000, might find themselves sidelined as prices near $2,700, with the possibility of reaching $3,000.
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Credit: The Market Sniper
Gold to $20,000? Plus Peter Schiff's 10X Gold Outperformer Prediction that Will SHOCK YOU!
• Gold to $20,000? Plus Peter Schiff's ...
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