BULLION BANKS DEFEATED! Prepare For a PARABOLIC Spike In Gold and Silver Prices - Peter Grandich
Gold has long been regarded as a symbol of stability and wealth, particularly during economic uncertainty and volatility. As we approach the end of 2024, central banks worldwide remain key gold demand drivers. According to the latest reported data, November marked another strong month for gold purchases, with central banks collectively adding a net 53 tons to global official holdings.
Precious metals expert Peter Grandich remains bullish on gold for 2025, predicting it could surpass 3,000 dollars without dropping below 2,000 dollars. He attributes gold's gains to massive central bank buying, which has overwhelmed the paper market, and growing concerns over the overvaluation of paper assets, especially U.S. assets.
A recent market update reveals that gold has not only outperformed the S&P 500 but has also seen a substantial increase in value this year. While the S&P 500 performed strongly in 2024, gaining over 26% alongside gold, gold's relative performance has surpassed the index. Unlike stocks, which can be more volatile, gold’s rise offers a reliable security blanket for investors seeking stability amid uncertainties about where to allocate their capital.
Bitcoin, the world’s largest cryptocurrency, showcased remarkable growth in 2024, achieving a staggering 120% increase and outperforming most asset classes. However, its meteoric rise began to lose momentum toward the year's close into early 2025. According to a Bloomberg report, Bitcoin experienced its first monthly decline since August 2024, slipping 3.2% in December. This drop came as investors started taking profits after the sustained rally leading up to the inauguration of Donald Trump as the 47th President of the United States on January 20, 2025.
Peter Grandich foresees two key developments that could significantly drive gold prices higher. He highlighted that cryptocurrencies have diverted some potential investment away from gold. However, as the speculative frenzy surrounding the cryptocurrency market subsides, he expects gold to gain increased traction, particularly with robust central bank demand continuing to fuel the market.
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