Gold has entered a new bullish phase, according to Sprott Asset Management, as prices hit a record high of $2,700 per ounce. Factors driving this surge include central bank purchases, rising U.S. debt, and a potential peak in the U.S. dollar. Analysts predict that gold may reach $3,000 in the next six to nine months, citing growing government debt and geopolitical tensions. Gold prices have performed extremely well over the last three months, reflecting buyers' willingness to pay higher prices, according to Citi.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Gold has entered a new bullish phase, according to Sprott Asset Management,
00:06as prices hit a record high of $2,700 per ounce. Factors driving this surge include
00:11central bank purchases, rising U.S. debt, and a potential peak in the U.S. dollar.
00:16Analysts predict that gold may reach $3,000 in the next six to nine months,
00:20citing growing government debt and geopolitical tensions.
00:23Gold prices have performed extremely well over the last three months, reflecting buyers'
00:28willingness to pay higher prices, according to Citi.
00:30For all things money, visit Benzinga.com slash GSTV.