Speaking to the Investing News Network, Gareth Soloway, chief market strategist at VerifiedInvesting.com, shared his latest price forecasts for gold and silver, as well as Bitcoin.
For gold his next target is US$2,660 per ounce, a level the metal could reach later this year or early next year.
Beyond that it’s harder to make a concrete prediction, but history shows the yellow metal could rise to the US$6,000 level during this cycle. If it does, Soloway cautioned that macroeconomic problems would likely be prevalent.
Looking over to silver, he said he’s less bullish in the short term given the white metal’s industrial side.
In his view, silver could fall as low as US$24 per ounce, which would be a buying opportunity for investors.
Bitcoin could also be poised for major price declines depending on what happens with the stock market. Soloway said a 20 or 25 percent correction could take Bitcoin down to the US$30,000 level.
Watch the interview above for more from Soloway on gold, silver and Bitcoin, as well as the overall market.
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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