April 1, 2021
Wells Fargo’s head of real asset strategy John LaForge says gold could hit $2,200 an ounce this year. This
is all because of the news that gold supplies are deficient rather than excessive. LaForge pointed out
that it was supply deficiencies that sent gold on the rally from $250 to $1900 in the decade from 2001-
2011. LaForge said this could be gold’s new “bull super-cycle”. Additionally, Wells Fargo sees traditional factors like easy money and a weak dollar as a positive outlook as well.
(New York)
FINSUM + Magnifi: Demand for gold has been up and down as of late as the future outlook of the Fed seems uncertain. However, solid supply changes for gold might be the catalyst for a real bull rally.
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