Gold 'certainly' could soar as high as $3000, famed investor Michael Novogratz says | Currency News | Financial and Business News | Markets Insider

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Gold 'certainly' could soar as high as $3000, famed investor Michael Novogratz says

Michael Novogratz told Bloomberg TV on Friday that the price of gold could reach up to $3,000 by the end of the year.

The Galaxy Digital CEO and co-founder emphasized that predicting a new high for gold is difficult because it's already reached , and"once you take out old highs in markets it's really hard to figure out where they could end." But when asked for a number, he said,"Could it be $2,500 to $3,000? It certainly could be."Novogratz said that he thinks the Fed will be more dovish in its September meeting, and its actions could be"the juice that accelerates gold and bitcoin."

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I'm not surprised. There's no other alternative. With interest rates and yields so low, where else can you do to protect your principle? Stock market is extremely dangerous right now. I won't even touch mutual and index funds. They're fated to doom. There's just no options.

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