500% Increase in GOLD Demand! Start Buying Gold & Silver Like Crazy When This Happens - Lobo Tiggre

500% Increase in GOLD Demand! Start Buying Gold & Silver Like Crazy When This Happens - Lobo Tiggre

Gold prices traded at 2,336.02 dollars per troy ounce, marking an increase of 0.78% from yesterday and a significant 13.05% rise since the beginning of the year. This robust performance has caught the attention of analysts and investors alike.
Lobo Tiggre, Editor of The Independent Speculator, noted that gold's performance this year is particularly remarkable. It has surged even before typical catalysts such as recessions or interest rate cuts, which are usually bullish for gold, have occurred. This suggests a strong bullish outlook for gold moving forward.
In March and April 2024, gold prices hit multiple new highs, defying expectations given the robust economic data and delayed market expectations for the next rate cut in the US. Typically, such conditions would be negative for gold prices. Many analysts in the gold community appear puzzled by this sudden increase and question its sustainability.
Investor sentiment towards gold has also improved. Net speculative positioning in gold futures has increased over the past few months from the somewhat depressed levels seen in October 2023. However, the current positioning aligns with the five-year average, indicating it is well-stocked.
Tiggre also highlighted that gold equities are beginning to show leverage to the underlying metal, which is a key reason for investing in them. With this leverage, investing in gold stocks would be more appealing than holding the metal itself, which does not carry risks like bankruptcy, nationalization, or operational setbacks.
Despite the favorable conditions for gold, Barrick Gold stock has declined by about 11% year-to-date. This underperformance is notable given that gold prices have been trending higher, rising from around 2,050 dollars per ounce in early January to over 2,300 dollars per ounce. The increase in gold prices has been driven by cooling inflation, expectations of interest rate cuts by the Federal Reserve, and geopolitical uncertainties following the Israel-Gaza conflict.
The Federal Reserve announced on Wednesday that it would keep interest rates unchanged at their current levels and projected only one rate cut for the year. This decision marks a significant shift from the central bank's earlier forecast in December when it anticipated three rate cuts for 2024.
Central bank officials cited stubborn inflation as the primary reason for scaling back rate cut expectations. In their new economic forecast, they noted that while inflation is expected to tick up later in the year, achieving further reductions towards the 2% target will be challenging. This adjustment comes as high inflation figures from the previous year create a base effect, making it difficult for inflation to appear substantially higher this year in comparison.
Lobo Tiggre, a prominent voice in the financial community, emphasized that the lingering impact of last year's high inflation rates is providing a tailwind that will diminish over time. As this base effect wanes, Tiggre believes that achieving significant reductions in inflation becomes more daunting.

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