🚀💰After the recent technical breakthrough, the outlook for the precious metal has improved significantly. The gold rate rose sharply to $ 1,865 per troy ounce against the backdrop of a surge in inflation in the United States. This was predictable, as many years would have to pass before the economic consequences of the pandemic were overcome at the global level. Inflation in the US and Europe is now at its highest since the 1990s.
Under such circumstances, the gold rate may well break the current record set in 2020. While the quotes of the precious metal stopped at a five-month high, analysts predict the start of another price rally. Patrick Karim, a technical analyst at Northstar & Badcharts, expects gold to trade 250% above 2017 levels. This will correspond to a price tag of $ 4,200 per ounce by 2024.
History has shown us more than once that the value of the yellow precious metal is constantly growing in the long term. Therefore, gold is the most reliable protection for your savings, well-being and financial stability.
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