{"id":33212,"date":"2020-04-23T04:37:19","date_gmt":"2020-04-23T04:37:19","guid":{"rendered":"https:\/\/goldco.com\/?p=33212"},"modified":"2022-12-28T05:36:47","modified_gmt":"2022-12-28T13:36:47","slug":"when-the-financial-mainstream-calls-for-3000-gold-youd-better-pay-attention","status":"publish","type":"post","link":"https:\/\/goldco.com\/when-the-financial-mainstream-calls-for-3000-gold-youd-better-pay-attention\/","title":{"rendered":"When the Financial Mainstream Calls for $3,000 Gold, You\u2019d Better Pay Attention"},"content":{"rendered":"

Most people realize that mainstream financial institutions don\u2019t like gold. In many cases it\u2019s because they can\u2019t make money selling investors on gold, whereas they can make commissions every time an investor buys or sells stocks, bonds, mutual fund shares, etc. In other cases it\u2019s because they just don\u2019t know how important gold can be to a well-diversified financial portfolio, or how gold can protect your retirement savings<\/a> against inflation and financial crisis. So when mainstream financial corporations start talking about how great gold will perform, you know that it\u2019s going to perform well.<\/p>\n

Bank of America recently pushed its gold price target to $3,000<\/a>, up from $2,000. That\u2019s a huge jump, but the reasoning for it isn\u2019t entirely surprising. With the Federal Reserve engaging in essentially an unlimited amount of quantitative easing<\/a>, the federal government spending trillions of dollars of money that it doesn\u2019t have, and the prospects for inflation and even hyperinflation growing every day, the dollar is going to get pummeled, and dollar-denominated financial assets along with it.<\/p>\n

That\u2019s why Bank of America thinks that gold will average about $1,700 an ounce this year, and over $2,000 an ounce next year. And in a best-case scenario (for gold), $3,000 an ounce isn\u2019t out of the question.<\/p>\n

Given the unprecedented amount of financial intervention and monetary creation that is being done right now, it would be hard for anyone to deny that demand for gold is going to rise. We haven\u2019t even really seen the worst effects of the economic shutdown, nor of the recession that was bound to come anyway. Stock markets seem to be shrugging off all the bad news for now, but within the next few months they\u2019ll continue their downward trend as the reality of the sinking economy sets in.<\/p>\n

Losses of 50% or more on major stock indices can\u2019t be counted out, and a Great Depression-like 80% crash isn\u2019t outside the realm of possibility. With tens of millions of Americans out of work, supply chains completely disrupted, and no idea when any of this will end, 2020 is set to be a very bad year for financial markets.<\/p>\n

Those same factors will make 2020 and beyond another great time for gold. In the three years after the 2008 crisis, gold nearly tripled in price, setting a record high of over $1,900. And with the coming economic crisis looking likely to exceed 2008 in its severity, it\u2019s only natural that gold is set to exceed that record high price. If you haven\u2019t already invested in gold<\/a> to help protect your retirement savings, now\u2019s the time to start thinking about it.<\/p>\n","protected":false},"excerpt":{"rendered":"

Most people realize that mainstream financial institutions don\u2019t like gold. In many cases it\u2019s because they can\u2019t make money selling investors on gold, whereas they can make commissions every time an investor buys or sells stocks, bonds, mutual fund shares, etc. In other cases it\u2019s because they just don\u2019t know how important gold can be […]<\/p>\n","protected":false},"author":13,"featured_media":33213,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[209],"tags":[652,226,491,241],"class_list":["post-33212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-precious-metals","tag-gold-price","tag-inflation","tag-quantitative-easing","tag-recession"],"acf":[],"yoast_head":"\nBank of America Thinks Gold Could Reach $3,000 | Goldco<\/title>\n<meta name=\"description\" content=\"Gold is already up over 10% this year, but it has a lot of room to run. 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