Posted 4/7/2024, 11:14:00 AM
Gold Could Surge 30% to $3,000 Per Ounce, Says Economist David Rosenberg
- Gold prices could hit $3,000/oz, a 30% upside, according to economist David Rosenberg, as upcoming Fed rate cuts occur
- The gold rally defies typical challenges like a strong dollar and falling inflation that often hurt prices
- Demand from central banks and emerging markets are fueling the gold surge, along with industrial usage and geopolitical risks
- Rosenberg sees 10-15% more upside when central banks start cutting rates, putting gold in the $2,500 range
- He recommends overweighting gold as downside risks are limited but upside potential to $3,000/oz is "tantalizing"