Expert Predicts Gold To Be 'Very Positive' For Next 18 Months: 'A Whole New Source Of Madness Coming In'
Portfolio Pulse from Benzinga Neuro
Ryan McIntyre from Sprott Inc. predicts a positive outlook for gold prices over the next 18 months, driven by central bank buying, ETF inflows, and geopolitical tensions. Gold ETFs like IAUM, GLDM, and IAU are currently trading lower despite the bullish forecast.
August 22, 2024 | 2:31 pm
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POSITIVE IMPACT
SPDR Gold MiniShares Trust (GLDM) is down 1.32% but may benefit from a positive gold price outlook due to increased demand from central banks and geopolitical tensions.
GLDM's performance is tied to gold prices. The current dip may be temporary as the forecast for gold remains positive, driven by central bank demand and geopolitical factors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares Gold Trust (IAU) is trading 1.43% lower, but the positive outlook for gold prices due to central bank buying and geopolitical tensions suggests potential for future gains.
IAU is affected by gold price trends. Despite the current decline, the positive forecast for gold prices due to central bank activity and geopolitical issues indicates potential for future appreciation.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares Gold Trust Micro (IAUM) is trading lower despite a positive outlook for gold prices over the next 18 months, driven by central bank buying and geopolitical tensions.
IAUM is directly impacted by gold price movements. Despite current trading down, the positive forecast for gold due to central bank buying and geopolitical tensions suggests potential future gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80