Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Investing Gareth Soloway: Gold, Silver, Bitcoin and More — Price Predictions for 2024
Investing

Gareth Soloway: Gold, Silver, Bitcoin and More — Price Predictions for 2024

by admin December 20, 2023
December 20, 2023

Gold recently reached a new all-time high, sparking excitement among gold market participants.

But is it the real deal? Gareth Soloway, chief market strategist at VerifiedInvesting.com, thinks that it is.

‘According to what I’m seeing, yes it is a real move for gold,’ he said. ‘Eventually we will finally get above that kind of US$2,080 (per ounce) level that we keep on hitting or piercing and then getting repelled back off of.’

He thinks the yellow metal will be the best-performing asset of 2024, and said he sees an inverse head-and-shoulders pattern forming. If it completes, that would imply a price target of US$2,530 to US$2,540 next year.

Looking over to silver, Soloway believes it has potential to break the US$30 per ounce level next year.

‘For me as a silver analyst, I’m looking for price — we need price to basically break above US$25.50. If it can break above US$25.50, you’ve got some really good upside that I think next year could retest the US$30 level,’ he said. ‘We know that silver is partially industrial, so we have to monitor the economy as well. But I think overall the store of safety aspect will take control if gold really breaks out as well. And so I do think you could hit US$30 in the year coming in 2024.’

In terms of Bitcoin, Soloway said he underestimated how well it would perform in 2023 — he was surprised at the strength of risk-on sentiment, and how much spot Bitcoin exchange-traded fund (ETF) speculation impacted the industry.

‘I may sound like a broken record, but I still think that Bitcoin at these levels has upside to maybe around US$50,000, US$48,000 — that would coincide with the spot ETF approval,’ he said. ‘My feeling on that is that everyone’s front running this news, meaning that everyone’s piling in for the news, which means it could be a sell-the-news event.’

Watch the interview above for more from Soloway on gold, silver and Bitcoin, as well as uranium.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterPinterestEmail
previous post
Lake Resources NLMaiden Ore Reserve Defined at Flagship Kachi Project
next post
Trump’s Republican White House rivals rally around the former president in ballot battle

Related Posts

Trailbreaker Resources Announces Exchange Approval Of COHO Property Option

June 7, 2025

How AI is Poised to Rewire the Foundations of Medicine

June 7, 2025

Web Summit 2025: AI Innovation, Investment Shifts and Global Tech...

June 7, 2025

Ford Government Pushes Bill 5 Through Legislature, Sparking First Nations...

June 7, 2025

Hempalta Provides Strategic Update Regarding Equipment Sale and FCC Agreement

June 7, 2025

Editor’s Picks: Marathon Project Gets Nod, Rio Tinto Opens Western...

June 7, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Planned Russia-Ukraine prisoner swap descends into blame game and uncertainty

      June 8, 2025
    • Bruce Springsteen’s European tour comes with a warning about the battle for America’s soul

      June 8, 2025
    • Israel says it has killed leader of Palestinian militant group that took part in October 7 attack

      June 8, 2025
    • Colombian presidential hopeful Miguel Uribe shot in Bogota

      June 8, 2025
    • Desperate to get its illegally detained civilians out of Russia, Kyiv offers Ukrainian collaborators in exchange

      June 8, 2025

    Categories

    • Business (1,395)
    • Investing (3,407)
    • Politics (4,562)
    • World (4,471)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing