Why Gold Is A Good Investment Right Now—And May Be Set For A New Record Price

as investors turn to the safe-haven asset amid a rocky macroeconomic environment, and analysts believe the precious metal could have much more room to run—thanks in no small part to the potential recession looming ahead.

And the precious metal could soon soar far past its all-time high, UBS’ global chief investment officer Mark Haefele wrote in a Tuesday note to clients, setting a $2,200 target for gold by next March, indicating an about 8% upside. A weakening U.S. dollar, historic stress in the banking sector, the standoff with the federal government’s debt ceiling, easing expectations about interest rates and the rising likelihood of a recession all bolster gold prospects, according to Haefele.

“Gold is typically driven by macro variables rather than supply [and] demand,” says UBS analyst Cleve Rueckert, explaining that the surge in the unique commodity’s price is unique as it has little to do with its use case. So how can you get gold exposure? In addition to buying physical gold or futures contracts for the metal, investors can also purchase exchange-traded funds holding the commodity or buy shares of public companies who mine the metal,Gold mining stocks have surged this year: Shares of Gold Fields , Kinross Gold , Franco-Nevada , Royal Gold and Barrick Gold have each outperformed the S&P 500’s 8% gain.The “plethora of risk” in the U.S.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Palantir dumps $50 million gold investment two years after buying precious metalAfter buying $50 million worth of gold bars in 2021, the company said in its quarterly filing on Tuesday that it sold that investment for a minor gain.
Source: CNBC - 🏆 12. / 72 Read more »

Why Gold Is A Good Investment Right Now—And May Be Set For A New Record PriceGold has performed better than the S&P 500 over the last five years. And with a potential recession ahead, analysts are setting lofty expectations for the precious metal.
Source: Forbes - 🏆 394. / 53 Read more »

Protect Your Investment and Your Cargo—The Best Tonneau Covers You Can BuyIs your truck's bed exposed to the elements and your gear to potential thieves? Protect your investment—and your property—with a tonneau cover. Here are some of the best on the market.
Source: RoadandTrack - 🏆 577. / 51 Read more »

Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards – Bitcoin NewsInvestment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards. dedollarization
Source: BTCTN - 🏆 531. / 51 Read more »

SoftBank posts record $32 billion loss at its Vision Fund tech investment armSoftBank's Vision Fund segment posted a 4.3 trillion Japanese yen ($32 billion) loss for its fiscal year ending Mar. 31.
Source: CNBC - 🏆 12. / 72 Read more »