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Experts: Gold prices are just beginning to reach $ 3,000 in 2025

Time: January 9, 2020 14:13:25 China Finance
As tensions between the United States and Iran eased, the price of gold rose sharply after surpassing the $ 1,600 mark, and is currently trading around $ 1,555 per ounce. Nonetheless, gold is still one of the best performing assets in the world, and a strategist said that the rise in gold prices has only just begun.

Paul Schatz of Heritage Capital said: "I think that by 2025, the price of gold will reach at least $ 2500 to $ 3,000 per ounce. I don't think the rise of gold is over."

"The gold market is very hot right now, and everyone loves gold," Schatz said. "I think gold is a trading tool. If you like gold, what would you do? You will find a leveraged way to trade it."

Schatz chose Newmont Mining, which he called "the originator of this industry." "It usually has leverage, so gold is up $ 2, and this stock is up 2%. This stock may also be up 3%."

Gold is often seen as a safe-haven asset, but despite the stock market's performance, investors are still putting money into gold.

"Be very careful when entering safe assets," Schatz said. "I always remind people that the price of gold initially fell from $ 1,000 to $ 680 in 2008, and then picked up again. Gold is not what people think is an effective tool against inflation.
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