Gold to $3,000 by 2022? Sounds Crazy, but It Isn't
The past five-plus weeks have been historic in a number of ways. We've witnessed record-breaking volatility in the stock market, along with the steepest descent into bear market territory of all time. Investors have had their resolve tested like never before.
At the same time, we've observed an unprecedented response to the spread of the coronavirus disease 2019 (COVID-19), which has topped 716,000 cases worldwide, according to Johns Hopkins University, as of March 29. Within the U.S., select states have taken stringent measures to shut down all nonessential businesses, grounding economic activity to a halt. It's this uncertainty and economic stoppage that has investors on edge.
While most investment vehicles are liable to struggle in the shadow of COVID-19 (at least in the interim), it may prove to be the perfect storm of events that sends physical gold prices shooting through the roof. Having ended the previous week at $1,628 an ounce, it would not be in the least bit surprising if spot gold approached $3,000 per ounce by sometime in 2022.
Source Fool.com
