100% Certainty! I am Afraid that the Gold Prices will go ABSOLUTELY WILD - Tavi Costa

The price of gold has recently surpassed the 2,050 dollar mark, experiencing notable gains amid investor confidence in a potential interest rate cut by the Federal Reserve during its upcoming monetary policy meeting on March 20. This optimism stems from the belief that such a move would support non-yielding assets, with gold being a primary beneficiary.
In response to an escalation in the Middle East conflict, gold prices surged over 1%, reaching a one-week high on Friday. Additionally, softer US producer price index data contributed to increased expectations of an earlier rate cut by the Federal Reserve, further boosting the appeal of gold as a safe-haven asset.
Tavi Costa from Crescat Capital highlights the robust performance of gold, maintaining levels above 2000 dollars. He suggests that silver is poised to lead the way in the precious metal markets.
China has emerged as a significant player in the gold market, with data revealing that it added a substantial 225 tonnes of gold to its reserves in 2023 alone, valued at a staggering 13.2 billion dollars. This ongoing gold-buying spree by China, which started in 2022 with monthly acquisitions, positions the country as a key contributor to the demand side of the gold market.
The World Gold Council reports that among the Brics nations, China is officially the largest buyer of gold in 2023, surpassing all other countries. Russia and India secure second and third places, respectively, in gold acquisitions.
Tavi Costa emphasizes that while central banks have been acquiring gold, their allocation on balance sheets remains below the levels seen in the 70s. This suggests the potential for increased allocations in the future. Coupled with a declining trend in global gold production since 2019, these dynamics create a favorable environment for potential drivers affecting both the demand and supply sides of the gold market.
The price of silver has surged to approximately 23.35 dollars following the release of a Producer Price Index report for December by the United States Bureau of Labor Statistics. The report indicated softer-than-anticipated data, contributing to the positive momentum for silver. Silver has demonstrated resilience amidst escalating tensions in the Middle East, even in the face of intense competition from stocks.
Tavi Costa emphasizes the remarkable nature of silver's current position in the market, viewing the situation not as a concern but as a significant opportunity. He further underscores the multifaceted appeal of silver, noting its significance as a monetary metal and inflationary asset and its alignment with the Green Revolution.
Silver takes center stage in producing crucial Green technologies, particularly solar panels, as the world transitions towards renewable energy and carbon neutrality. The metal is a critical conductor in photovoltaic cells, making it an indispensable component in the renewable energy sector. According to insights from the Silver Institute's World Silver Survey, the demand for silver from solar panels alone is projected to increase by 21 million ounces this year, contributing nearly 2% to the overall demand for silver.

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