US President Joe Bidenâs Treasury secretary pick, Janet Yellen, said on Tuesday that the new administration would focus on winning quick passage for the recently revealed $1.9 trillion pandemic relief plan.
Sean Hyman of the Logical Investor offers his insight on how the markets are faring amid hopes of the major stimulus.
âI think we are in the perfect storm in the favor of gold and precious metals. In fact, Iâm even more bullish on silver and platinum than even gold,â he says.
According to Hyman, âthere are all kinds of reasons why gold and metals should prosper.â He points to the upcoming stimulus and Yellen saying âgo big,â as well as the USâ high debt, low interest rates, a falling dollar, and an overvalued bubble-like stock market.
Hyman says that a $2,500 gold price is âeasily obtainableâ in the near term, and maybe even $3,000.
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Originally posted on https://www.rt.com/business/513300-perfect-storm-gold-price-high/?utm_source=rss&