Gold Prices Surge: What’s Driving The Rally & Why $2,100 Is The ‘Magic Number’ | The Gold Spot

Investors have been busy digesting an exciting week of momentous yet conflicting events. On the one hand, gold prices are close to setting new highs, and geopolitical tensions are cooling. However, a check beneath the economic hood reveals some systemic problems that must be addressed.

Gold charts look healthy, with spot prices flirting with the most recent high of $2,100. Experts are calling for gold to blow past this resistance, which would turn the whole precious metals market bullish. Silver prices have made respectable gains, empowered by gold’s upward momentum.

While the promise of rate cuts has some people pointing to a recovering economy, nearly all other indicators suggest the opposite. The US dollar is slipping close to a three-month low, and inflation continues to run wild. At the same time, US debt and consumer debt are breaking records, pushing the economy further towards turmoil.

Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Founder Eric Sepanek and Sr. Precious Metals Advisor Steve Rand explain positive gold price outlook, why inflation isn’t improving anytime soon, and how investors can take advantage of a limited gold buying opportunity.

⭐ RELATED LINKS:

📊 Gold Price Predictions and Forecasts 2024:
https://www.sbcgold.com/gold-price-forecasts/gold-price-forecast-2024/

📰 Gold Prices Surge as New Trading Week Begins:
https://www.sbcgold.com/blog/gold-prices-surge-as-new-trading-week-begins/

🏦 Central Banks Buying Gold at Record Rates: Why Investors Should Care:
https://www.sbcgold.com/blog/central-banks-buying-gold-at-record-rates-why-investors-should-care/

📰 JPMorgan boss Jamie Dimon says the US is addicted to debt, and it's created a dangerous sugar high in the economy:
https://www.businessinsider.com/us-debt-jamie-dimon-economy-fed-inflation-interest-rates-2023-11

📈 See Live Gold and Silver Spot Prices:
https://www.sbcgold.com/charts/

🪙 Buy gold and silver coins in Arizona:
https://www.sbcgold.com/buy-gold-and-silver/coins/

👉 Gold Bullion Bars in Arizona:
https://www.sbcgold.com/buy-gold-and-silver/buy-gold-bars/

⭐ @sbcgold Advisors in this The Gold Spot video:

👤 Steve Rand, Sr. Precious Metals Advisor: https://www.sbcgold.com/about/steve-rand/

👤 Eric Sepanek, Founder.