More and more banks are talking about a possible recession.

Goldman Sachs economists recently announced that they see the chances of a recession rising within the next two years.

A recent report read in part, “Our analysis of historical G10 episodes suggests that although strong economic momentum limits the risk in the near-term, the policy tightening we expect raises the odds of recession. As a result, we now see the odds of a recession as roughly 15% in the next 12 months and 35% within the next 24 months.”

Deutsche Bank was one of the first credible banks to predict a recession in the U.S. in late 2023.

The bank is now telling investors to “prepare for a hard landing.” Deutsche chief economist David Folkerts-Landau said a late-2023 U.S. recession was now a baseline scenario.

In other news, Wells Fargo believes 2022 could be gold’s year.

In a recent report, bank economists said that the yellow metal is looking to hit $2,100 per ounce by the end of the year.

“We believe that investors are actively looking for assets that can add diversification to portfolios. Store-of-value assets, such as bitcoin and gold, are floating to the top of the list, as they have often moved to the beat of their own drummer over the long-term,” said Wells Fargo’s head of real asset strategy, John LaForge.

While Bitcoin seems to be getting most of the attention, Wells Fargo is team gold.

“Gold’s recent price dormancy does not spook us. It was one of the best-performing commodities during the last commodity bull super-cycle (1999-2011), and we suspect it could be again this cycle.”

If you’d like to invest, give us a call at (855) 905-5317 for your free, no-obligation, one-on-one consultation.

 

60 Years Experience

REQUEST YOUR FREE
GOLD IRA GUIDE