The gold price has dropped off in February, but remains much higher than it was just a few months ago.
Wagner emphasized that the Fed can’t solve inflation on its own, noting that if the government keeps printing money it will be impossible to rein in. “The most important thing that I believe the Fed is looking at … is whether or not the administration pitches in and actually helps solve the problem, or if they make that a harder problem to solve,” he explained.
He previously predicted that gold would rise to a fresh record in 2023, but now thinks it may happen next year instead.
That said, for Wagner, it’s more important to hold gold than to be concerned about what the price is doing. “Currencies worldwide are on a race to zero,” he said, noting that, in contrast, gold has the same buying power as it did 100 to 200 years ago.
“Don’t worry about the day-to-day, month-to-month fluctuations … don’t give up on accumulating gold, and don’t look at it as a short-term investment, because it’s always the right time to buy gold as long as you realize that 10, 20 years from now gold is going to have far more buying power and value than whatever happens to the dollar,” he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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