Investing in gold has become increasingly popular in recent years, especially as the stock market has see-sawed. Well-known investor Mike Larson recently shared his bullish outlook on gold, believing that patient investors who invest now could be rewarded in 2024.
In an interview with GodzillaNewz, Larson said that gold is currently beginning a long-term uptrend that could bring investors many rewards. He pointed to the recent strength of the US Dollar as a key factor, noting that when the greenback weakened against global currencies, gold prices rose. He also attributed gold’s popularity to increased uncertainty in the markets, particularly with domestic and international politics.
Given the current state of the economy, Larson believes now is the perfect time for patient investors to consider investing. He expects gold prices to increase into 2024, noting that investors who are invested early and wait out the swings of the market are more likely to benefit from the upswing. He also cautioned investors against buying too much at once so as to avoid inflated prices and the potential for panic selling if the market takes an unexpected dip. Taking a long-term strategy and averaging into positions can reduce risks and boost returns over the long run.
Finally, Larson believes that gold remains an attractive option for many types of investors, not just those looking for a short-term boost. For those looking to build wealth over the long run, he believes investing in gold now can pay off in 2024. However, he warned that any investment should be closely monitored and be informed by research to understand the current market environment.
All in all, Mike Larson’s bull case for gold is one that should not be overlooked, especially for patient investors wanting to gain rewards by 2024. By taking a long-term approach and monitoring the market carefully, investors can potentially benefit from investing in gold now.