One of the biggest predictions of 2022 is that it will be a good year for gold. Many experts predict the yellow metal will hit above $2,000 an ounce.

In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said he believes there’s a 50% probability for gold prices to trade between $1,800 and $2,000 an ounce.

He also sees a 30% chance of gold pushing above $2,000 to a new record high.

“We see an 80% chance of gold prices staying in the current range to moving higher next year. Even with the Federal Reserve looking to tighten interest rates next year, we think gold has a pretty good chance of moving higher.”

Byron Wien, the Vice Chairman of Blackstone, and strategist Joe Zidle think the yellow metal can surge 20% to a new record high of $2,160 an ounce.

“The price of gold rallies by 20% to a new record high. Despite strong growth in the U.S., investors seek the perceived safety and inflation hedge of gold amidst rising prices and volatility. Gold reclaims its title as a haven for newly minted billionaires, even as cryptocurrencies continue to gain market share,” they wrote in a statement.

We dive more into why gold could perform well in our latest gold news editorial.

However, not all experts think the precious metal will go far beyond record numbers. Fat Prophets predicts gold could push past its $2,069.49 record high. However, they don’t see it going much higher than that.

Jeff Sherman, DoubleLine’s co-chief investment officer, believes the days of 2% inflation are over for now.

He told Yahoo News, “I don’t think we are going back to the old school one and a half to 2% inflation because it’s permeated the psyche for a period of time. And so I think we are going to have to deal with higher levels of inflation, and the front end of the bond curve is telling you that if you look at breakeven spreads.”

He believes inflation will clock in at 4% this year.

Speaking of inflation, Independent Advisor Alliance CIO Chris Zaccarelli has voiced concerns that the Fed is a bigger risk than inflation this year.

On Fox’s “Mornings with Maria,” he said in part, “I mean, I think the Fed is a bigger risk, I mean, clearly, inflation is what’s driving the Fed’s actions, and so you can say inflation is the cause of what’s driving the Fed to make that huge pivot…So I think ultimately it’s the Fed that drives everything…”

If you’d like to use gold or other precious metals as a hedge against inflation, give us a call at (855) 905-5317.

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