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Gold: Think Long-Term

 -- Published: Friday, 27 February 2015 | Print  | Disqus 

By Jeffrey Nichols, Senior Economic Advisor to Rosland Capital

Although I expect gold prices to rise sharply by the end of the year, possibly even testing gold’s all-time high near $1,924 an ounce, I’m the first to admit that short-term forecasts are highly uncertain. 

I’m much more confident about the long-term prospects for gold.  Indeed, looking out towards the end of the decade and beyond, I believe the metal’s price will rise to a multiple of the currently prevailing price. 

As the Indian and Chinese economies continue to expand, creating new wealth and growing middle classes, demand for gold in these and neighboring countries will surely expand.  At the same time, official demand from a growing number of central banks will also continue to grow as central bank reserve managers look for alternatives to the U.S. dollar and the much-tarnished euro. 

As physical demand for gold rises, would-be buyers will find that much of the world’s above-ground inventories are in very strong hands, available to the market only at much higher prices. 

Meanwhile, in the days, weeks, and months immediately ahead, gold remains susceptible to U.S. dollar prospects and U.S. interest-rate expectations.  In fact, should the news from Chairwoman Janet Yellen and the Federal Reserve suggest an early increase in the Fed’s interest-rate targets, gold could suddenly find itself in a temporary tailspin.

In any event, the markets will keep an eye on the flow of U.S. economic indicators.  Hints of a stronger recovery would raise expectations that the Fed will switch gears sooner than later – and could lead to a further near-term appreciation of the greenback and a sudden downshift in the metal’s price, postponing the long-awaited restoration of gold’s long-term uptrend. 

Alternatively, it is quite possible that the economic news will disappoint those predicting a robust economy – raising expectations of longer-lasting reflationary monetary policies and prompting an earlier recovery in the price of gold. 

About Rosland Capital

Rosland Capital LLC is a leading precious metal asset firm based in Santa Monica, California that buys, sells, and trades all the popular forms of gold, silver, platinum, palladium and other precious metals. Founded in 2008, Rosland Capital strives to educate the public on the benefits of buying gold, numismatic gold coins, silver, platinum, palladium, and other precious metals. Rosland also helps people who wish to protect their wealth by including a gold or precious metal-backed IRA in their asset portfolio. For more information please visit  Like Rosland Capital on Facebook for company updates and industry news. 

About Jeffrey Nichols

Jeffrey Nichols, Managing Director of American Precious Metals Advisors and Senior Economic Advisor to Rosland Capital, has been a leading precious metals economist for over 25 years. His clients have included central banks, mining companies, national mints, investment funds, trading firms, jewelry manufacturers and others with an interest in precious metals markets. 


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