Rick Rule, the Director of Sprott U.S. Holdings, told Kitco News that he believes gold prices could triple within the next five years.

He said that when gold and the U.S. dollar rally in tandem, stronger gold prices follow.

Kitco News reports, “Rule said that in past bull cycles, gold has climbed at least seven-fold and that it is very likely that gold will double or triple by five years’ time.”

Goldman Sachs economists have downgraded their forecast for U.S. economic growth in 2022.

They now see little to no growth during the first three months of the year.

They also said the chance of a recession in the U.S. over the next year has risen as high as 35%. But Treasury Secretary Janet Yellen doesn’t agree. In fact, she said she doesn’t expect a recession in the U.S. However, on Thursday, she said Americans will likely see another year of “very uncomfortably high” inflation. She told CNBC that Russia’s invasion of Ukraine made her previous prediction that price growth would slow down in the months to come a little more complicated.

The Ukraine war has also caused Goldman Sachs to push up its gold price projections.

The bank now sees the yellow metal hitting $2,300 per ounce within the next three months and topping $2,500 by the end of the year.

Experts say that since the current geopolitical crisis has global stock markets on shaky ground, many investors are turning to safe-haven investments like gold and silver.

If you like to be one of those investors, give us a call at 855-905-5317 for your free, no-obligation consultation.

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