Gold Reaching 2 000 May Only Be A Matter Of Time Suggests Commodity Expert
In 2022, this scenario played out, with gold initially recording highs; however, it has since fallen off and, at the time of writing, is trading at $1,787.91 an ounce. Nevertheless, senior commodity strategist at Bloomberg Intelligence, Mike McGlone, tweeted on August 4 that it’s just ‘a matter of time’ before gold hits the $2,000 level due to limited production versus the unlimited production of fiat currencies. Currency trend McGlone further elaborated that it takes time for the precious metal price to reflect the gains it sees in other foreign currencies, like the gain it has seen in the Euro currency....