Why $5000 Gold Could Soon Become A Reality

Gold last traded at $1,940 an ounce. Silver at $27.36 an ounce.

NEWS SUMMARY: Precious metal prices fell Wednesday pressured by rising global stock markets and a firmer dollar. U.S. stocks traded mostly higher as traders took profits out of the high-flying tech sector and bought shares in more beaten-down parts of the market.

Yahoo Finance---"The post-COVID 'new normal' and a flood of stimulus packages from the Federal Reserve have crushed the dollar and pushed gold to record heights. And with the real economy in a precarious situation, gold prices could soon hit $3000, $4000 or even $5,000 dollars per ounce. Investors of all types are piling into safe haven assets in unprecedented numbers, and when even the most gold skeptic investors are starting to bet big on bullion, one may conclude that things have fundamentally changed....Goldman Sachs has revised its 12-month forecast to $2300 per ounce - or a 20% gain. UBS has a $2,000 price target on gold for the end of September, while Deutsche Bank is targeting $2,000-$2,100. JPMorgan has a $2,000 price target, and Bank of America says gold prices could hit $3,000-an-ounce over the next 18 months."