Despite the gold price decline after an all-times high, the yellow metal bull market is just getting started. Experts predict silver to get an even better upside. It can make BTC ETFs, that are currently in the spotlight, flop.
After hitting the all-time high traded above $2,1k, gold prices backed. This fact made most market participants think that was the blow-off top. Investors may think the metal price will never reach the same height again. On the other hand, experts believe it is just the beginning. The metal prices are warming up to hit new records.
The recent price rally was actually a sign of the new bull market to start while the old one is dying. The old market managed to build massive support for gold prices over the last several months. It does not matter, what steps the FED will take to combat inflation, gold stays firm. The asset showed the ability to hold up despite headwinds. It triggered an overwhelming demand from investors’ side.
Even after coming back to $2,000 per ounce, the gold will establish a huge buying opportunity below $2k. On the one hand, the price of $2,000 looks like firm support. On the other hand, it does not guarantee the metal price to go below that level. In any way, we might see serious gains coming up.
Market participants should put up with the fact that inflation is still alive. What’s more, it is very unlikely to go lower. Some analysts say markets are approaching a massive USD selloff. The problem is the FED does not have effective tools to fight inflation back. What we see now is barking at it without having any teeth.
The only way the Federal Reserve can respond to the financial and fiscal crisis is to print more dollars. However, it will only lead to sorrowing inflation and the greenback with the bottom dropping out of it. So, gold might become an asset to lead all the way. Experts believe that the best time to buy yellow metal is now.
Silver provides even better entry opportunities. If you still do not have the metal in your portfolio, it is high time to include it. Following the current price of around $25, it is only half of its 52-week high. So, the chances for the silver price to grow are pretty high.
As for BTC ETFs, they are currently in the spotlight, as the markets are waiting for official approval. The rise above $42k took all attention from gold and silver. However, experts believe a rally was triggered by rampant speculation based on fake ETF approval news.
May the trading luck be with you!
