Ross Beaty, probably the best-known long-term investor and company founder in the raw materials industry alongside Eric Sprott, recently spoke about the prospects of raw materials in a webinar by Grit Capital – and his favorites. Beaty sees gold and silver at the forefront. In his view, both precious metals will develop extremely well in the coming years.
However, if the recovery of the economy is a long time coming and the industrial metals as a whole continue to develop weakly, gold should continue its above-average development. Beaty sees a bull market in the two precious metals for the coming months.
Sell liquid assets
Some investors had speculated and had to sell liquid assets. This included gold. In addition, one saw an escape into the US dollar. A classic escape behavior that was also observed during the financial crisis. All of this has caused gold to come under pressure.But the new high that the future (June contract) generated two days ago is a strong sign that the weakness has come to an end. The March low of $ 1,460 should now be the new floor. Horror scenarios, according to which gold falls below $ 1,000 again, are highly unlikely to be won. It is much more likely that the gold price has set a new all-time high in US dollars. And this new all-time high above the $ 1,921 mark could already be reached this year.