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Barchart
Barchart
Andrew Hecht

Why is Gold’s Target over $3,300 per Ounce?

Gold Inflation IAU

I asked how high gold can rise in an early September Barchart article. I concluded the piece with the following:

Gold’s upside potential is a function of market sentiment and could reflect the decline of fiat currency values. The sky could be the limit for gold as commodity prices often rise to unreasonable, irrational, and illogical levels during bull markets that deft technical and fundamental supply and demand analysis. Gold is not a typical commodity as it is a hybrid between a means of exchange or currency and a raw material. Therefore, its position as a unique asset has tempered its volatility, but the price continues to rise to new and higher highs. The bottom line is we should respect gold’s trend, which remains bullish in early September 2024. 

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