Meanwhile, the Russian invasion into Ukraine is going to disrupt global energy and food markets, leading to persistent and likely higher inflation this year.
A historical parallel could be the 1973 to 1975 period which included a bear market and stagflationary recession. The Gold surged and peaked near the end of the bear market and recession while Silver and general commodity prices peaked well before Gold.
Gold is on the cusp of making one of its most significant breakouts. It has upside targets of $3,000 and $4,000 which could be hit in 2024. Silver will likely break $50 but it is less certain if it can hit $100 in this scenario.
- Source, Palisade Radio
