Gold prices recently reached a new all-time high and continue to show a strong upward trend. But what does this mean for investors? Sebastian Hell, a finance expert, dares to predict the price of gold until 2024.
Last week, the price of gold reached a new all-time high of $2,450 before a slight correction of around 2.5 percent set in. Despite these fluctuations, the long-term uptrend remains intact. The gold market is showing a bottoming out at the current level, indicating a possible continuation of the uptrend. This can provide an attractive follow-up opportunity for long-term investors.
Gold has decoupled from real interest rates (interest rates net of inflation), which have traditionally had a negative impact on gold prices. Central banks, particularly from emerging markets like China, are buying large amounts of gold to hedge against geopolitical risks and economic uncertainties and to diversify their foreign exchange reserves. These purchases support the price of gold and contribute to its stability and growth.
Sebastian Hell has been a successful entrepreneur in the German financial sector since 2005. In 2019 he founded the “Hell Investiert” project, which now has over 100,000 followers on social media. The focus is on investing through tangible assets (stocks, real estate
Long-term technical chart analyzes show a positive development for gold. A rare “cup and handle” formation suggests further uptrend. The gold price has broken through a significant long-term chart formation, indicating a continuation of the positive trend. There are currently no signs of a major correction phase, which increases confidence in a sustained price increase.
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Institutional investors (banks, asset managers, funds) largely missed the recent gold rally. According to a Bank of America survey, 71 percent of major asset managers have less than 1 percent of their portfolios invested in gold. This suggests significant potential should these investors begin to invest more in gold. Increased commitment from institutional investors will continue to drive gold prices higher and significantly increase demand.
A price target of $3,000 in 2024, or 2025 at the latest, appears realistic. Gold prices have performed strongly in recent years, supported by fundamental factors such as geopolitical uncertainties and inflation fears. Central banks are increasingly buying gold to hedge, which will further drive up the price. In addition, institutional investors who have previously been cautious should begin to invest more in gold.
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