The Gold IRA Company

Gold: At a 5-Year High And Likely Going A Lot Higher

Article By Victor Dergunov in Seeking Alpha

At the time of writing this article gold is trading at around $1,385 per ounce, its highest level in more than 5 years. In fact, gold is likely on the verge of a major break out that should elevate prices of the yellow metal much higher.

The landscape is set: The Fed is likely to embark on an easing cycle starting with a rate cut at next month’s meeting. This should enable the money supply to expand, and as prices of gold are highly correlated with the expanding money supply gold prices should go up much higher over the next several years.

Moreover, bond rates along with the dollar are likely to decline, both bullish elements for gold. Additionally, we see a very constructive technical image developing, the gold to silver ratio is signaling higher prices are likely, and various other fundamental factors also appear to be giving gold the green light.

Ultimately, gold is likely to go much higher over the next several years and this is still a very good time to accumulate gold, silver, gold miners, and other gold related assets, as we are still very early in this bull market cycle.

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