In light of gold’s rise to record levels in the recent period, some analysts are heading to cross the $2,000 per ounce threshold soon. However, there are some opinions that see this as far-fetched, and gold will experience strong declines.
According to Harry Dent, founder of HS Dent, “Gold, which has been trading at a high for 2023 and is currently around $1,930 an ounce, will reverse the trend and make a significant drop, entering the biggest crash that can be seen in its second wave before bouncing back up once more.” .
About $900.. Is it possible?
Dent predicts gold will reach as low as 900 an ounce by mid-2024.
He stressed that “gold is not a safe haven.” “I expect gold to drop to $900 to $1,000. And that would be much lower than other commodities…that’s still a 40-45 percent drop from here.”
Dent’s track record for correctly forecasting includes the Japanese asset bubble, the dot-com bubble, and the election of Donald Trump as president in 2016.
