Market Watch: Veteran Strategist Says Grab Your Hammer and Pick - Gold is Headed to $3,000
Article by Barbara Kollmeyer in Market Watch
Gold has been 2024’s dark horse asset, logging record after record since early March and a roughly 11% gain for investors in 2024.
The run for the commodity has caused some head-scratching. As a rule of thumb, falling interest rates make gold more attractive to hold as it’s a nonyielding asset, and hopes for easing this year are high.
Move over doubters, because our call of the day from the founder and president of Rosenberg Research, David Rosenberg, sees gold headed to $3,000 or even higher, and not just driven by the Fed.
“With an easing cycle on the horizon, global growth weak and looking weaker, and inflation on its last leg of decline, we’re of the view that the tailwinds blowing gold to new highs are about to .....