Gold could unexpectedly rise 20% in the new year as it regains its hedge status in the new year, according to Byron Wien, vice president of Blackstone’s private wealth solutions business, and Joe Zidle, chief investment strategist. Continue reading Kriptokoin.com for details.
Over $2,000 looks likely for gold, according to Strategydollars
Disclosure was made in Blackstone’s annual ‘Ten Surprises of 2022’ message, with gold down 3.6% in 2015 It came after it recorded its worst annual performance since . The surprise forecast for 2022 is based on investors turning to the yellow metal to hedge against troubled and more persistent inflation:
Gold price rose 20% to hit a new record high. Despite strong growth in the US, investors are seeking to hedge the perceived safety and inflation risk of gold amid rising prices and volatility. Gold is reclaiming its title as a haven for newly minted billions, even as cryptocurrencies continue to gain market share.
This would also mark a reversal of gold’s downtrend, with prices fluctuating between $1,850 and $1,650 for most of 2021 despite annual inflation in the US rising to a 39-year high. Gold is also competing with Bitcoin for investors’ safe-haven appetite throughout 2021.
If Byron Wien’s prediction turns out to be correct, gold will hit new record highs above $2,160 this year. The strategist says he believes a ‘surprise’ event is likely (more than a 50% chance), but the average investor will only assign a ‘one-third chance’ of it happening.
The message was published on Monday and lists ten surprise events that could happen in 2022. Other potential surprises on the list include the S&P 500, which made no headway in 2022 as strong earnings clash with rising interest rates, persistent inflation becomes a dominant theme, 10-year Treasury yields rise to 2.75%, and ESG goes beyond corporate policy statements. taking.