HomeInvestingRewards Ahead for Patient Investors: Mike Larson’s Bullish Take on Gold Into 2024

Rewards Ahead for Patient Investors: Mike Larson’s Bullish Take on Gold Into 2024

With its unparalleled history as a safe store of value, gold prices have gazed towards the future with hope.

Mike Larson, the Edward Jones investment strategist, is of a similar sentiment, predicting that patient gold investors will be handsomely rewarded by 2024. His bullish outlook comes in light of portents of a slumping U.S. stock market, a potential recession, and a weakening U.S. dollar index.

Larson’s perspective is shared by many analysts and is based on the fundamentals of the yellow metal’s underlying structure:

• As the Federal Reserve continues to pour trillions into the economy, gold’s stability as a traditional safe haven will remain untouched and desirable.

• A weakened U.S. dollar and unstable global market will likely drive more people towards not only gold but other precious metals.

• With many countries’ central banks still accumulating gold, the annual net slightly increases the global demand for gold.

What makes Larson’s outlook so unique is not only the accuracy of his predictions but his faith in gold’s longterm and steady growth. He commented that patient investors who buy gold now and hold it for four years are likely to see growth by 2024:

“I think gold could realistically hit $2,500 an ounce. I think we’re going to see higher prices over time as we get into the mid-2020s, and patient investors that buy here will be rewarded.”

Furthermore, Larson suggests that the rise in gold prices over the last two decades is not a passing trend but an indicator of a more consistent trend of growth.

The yellow metal’s journey from $252 to nearly $1,600 at the beginning of 2020 is proof enough that gold is showing a remarkable resilience to outside factors.

For those who are looking to buy gold, whether short-term or long-term, Larson offers his advice:

“If you’re going to buy gold, take a long view and don’t worry about the daily or short-term fluctuations. Take the long view, and buy now and hold it for a very long time. That’s the best advice I can give you.”

With gold faring so well against a crumbling U.S. stock market and a collapsing U.S. dollar, Mike Larson’s bullish outlook on gold is garnering more attention by the day. Now remains a great time to enter the gold space, as patient investors like Larson predict handsome rewards by 2024.

No comments

leave a comment