iGold

Following Wednesday’s Federal Reserve meeting and ¼ point interest rate hike, gold prices reached a new all-time record high: $2,079 in the spot market. This eclipses the previous record of $2,074 set in 2020 by $5 per ounce. While mainstream observers may not be paying attention to the message of the gold market, this new all-time high is a prelude for significantly higher prices to come. Gold is speaking loud and clear: there is trouble in the global economy.

Investors should be finalizing their precious metals portfolios now, because once gold has broken out to record territory, it will be too late to prudently enter the market. Investors seeking leverage to the gold price over the coming year should consider gold mining companies, which are significantly undervalued versus the metal itself.

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Gold is on the verge of new all-time highs. The metal of kings has already broken out to new all-time highs in many world currencies – the last yet most important will be gold as priced in US dollars.

On the heels of the 0.25% interest rate hike by the Federal Reserve, yet amidst clear signals that the central bank is ready to print new money to support the financial system after the failures of Silicon Valley Bank and Signature Bank, gold rose $30 or 1.5% to close at $1,970 per ounce in the spot market on Wednesday.

Let us observe gold as priced in several world currencies, so that we may gain a glimpse of what is in store for gold in US dollars over the months ahead.

Click HERE to continue reading for free on our partner site, Gold Eagle…