Big Picture Forecast Expects $8500 Gold by 2028

Gold last traded at $1,852 an ounce. Silver at $25.50 an ounce.

NEWS SUMMARY: Precious metal prices held firm Tuesday ahead of the Fed meeting on a weaker dollar. U.S. stocks traded flat as Wall Street geared up for corporate earnings season.

FX EMPIRE--"Gold remains stuck in consolidation mode, and this can be frustrating for some investors. At times like this, it is critical to remain focused on the big picture. Our primary forecast still anticipates a minimum target of $8500 by 2028.

The financial crisis that began in 2020 is far from over. It is estimated that roughly 20% of all businesses at the end of 2019 are now closed permanently.

Of the top 5-states that are 90+ days behind, three are in deep trouble. The year-over-year delinquencies are up roughly 800% in Hawaii, Nevada, and Alaska...There is a massive backlog of evictions and foreclosures looming in 2021. Increasing inventory in late 2021 could put pressure on housing prices, in some areas.

Inflation expectations reached an all-time high in January 2021, according to the Bank of America Fund Manager Survey. The previous peak was in 2004, which corresponded with a robust 7-year uptrend in gold....

I believe gold started a new 10-year advance in 2018 (like 2001). I expect a continued rise into 2028 with occasional pullbacks (like now) that should be bought aggressively. I have a minimum target of $8500. However, I think gold will well exceed that price objective."