In a recent interview, Rich Checkan, President of Asset Strategies International, shared his insights on the current state of the precious metals market and his predictions for the future. Checkan expressed a bullish outlook on gold, setting a minimum target of $3,800 per ounce for the current cycle. He also highlighted the potential for silver to reach $90 per ounce in the near future.
Checkan’s optimism for gold stems from various economic factors at play, including the unprecedented amount of fiscal and monetary stimulus injected into the economy in response to the global pandemic. With central banks around the world printing money at record levels, Checkan believes that the debasement of fiat currencies will ultimately drive investors towards hard assets like gold as a store of value.
Furthermore, Checkan emphasized the historical significance of gold as a long-term wealth preserver and safe-haven asset during times of economic uncertainty. He pointed out that gold has a proven track record of retaining its value over centuries, making it an attractive investment option for those looking to shield their wealth from the erosion of inflation.
In the case of silver, Checkan sees significant upside potential due to its dual roles as both a precious metal and an industrial commodity. As the global economy recovers and demand for industrial goods picks up, silver is expected to benefit from increased industrial usage, which could drive its price higher in the coming months.
Checkan’s forecast of $90 per ounce for silver may seem ambitious to some, but he remains confident in the metal’s ability to outperform other assets in the current economic environment. He advises investors to consider adding silver to their portfolios as a strategic hedge against market volatility and as a potential source of significant returns in the future.
Overall, Rich Checkan’s insights on the precious metals market present a compelling case for investors to allocate a portion of their assets to gold and silver. With the global economic outlook uncertain and inflation pressures mounting, holding physical precious metals could prove to be a prudent wealth protection strategy in the years to come.
