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We’re in a PERFECT STORM for gold prices edging higher, financial editor tells Boom Bust

We’re in a PERFECT STORM for gold prices edging higher, financial editor tells Boom Bust
US President Joe Biden’s 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.

“I think we are in the perfect storm in the favor of gold and precious metals. In fact, I’m even more bullish on silver and platinum than even gold,” he says.

According to Hyman, “there are all kinds of reasons why gold and metals should prosper.” He points to the upcoming stimulus and Yellen saying “go big,” as well as the US’ high debt, low interest rates, a falling dollar, and an overvalued bubble-like stock market.

Hyman says that a $2,500 gold price is “easily obtainable” in the near term, and maybe even $3,000.

For more stories on economy & finance visit RT's business section

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