Speaking to Kitco news, Tucker said that the metal is gaining in the long term, and investors should focus on recent corrections. He acknowledged that after gold prices began to consolidate following last year’s high, it was a painful moment for investors. Tucker noted that the short-term gains from last year and the immediate correction have potentially made investors shy away. According to Tucker, investors should pile more gold and not be deterred by the short-term price movement. He singled out gold’s almost 550% growth since 2000 as an indicator that the precious metal is a good option for the long term. He stressed that his view on gold is not a speculation but driven by factors likely to act as a catalyst for new price movement. Amid rising inflation, gold prices have also surged, partly validating the argument that the precious metal is a hedge against inflation.
Inflation to rise further
The director noted that the skyrocketing inflation figures are bound to surge further since the situation is not transitionary. However, he pointed out that the rising inflation corresponds with prices considering that wages are also rising but still not keeping up with inflation. Tucker also insinuated that precious metals might be the right investment option compared to keeping money in the bank. He added that keeping money in the bank might return less value since inflation will likely peak at 10%. He called on people to wake up and manage the current happenings and make wise future investments plans. Related video: Inflation is going to kill the American Dream, prices are not done surging [coinbase]
