Several key macroeconomic factors will boost the gold price to at least $1000 an ounce in the next t...
Several key macroeconomic factors will boost the gold price to at least $1000 an ounce in the next three years, according to AGF Investment Managements’ Charles Oliver. Manager of the Nucleus Global Gold & Resources fund, Oliver said the US dollar, supply and demand dynamics, M&A activity and rising global inflation are all suggesting rapid appreciation from the current $680 level. The long-run average suggests it typically takes 17 barrels of oil to buy one ounce of gold and the level is gradually moving back towards that. The current $60 oil price gives Oliver his £1000 an ounce, with...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
