John Rothans holds a critical job at U.S. Reserve. The Austin, TX-based distributor of gold and other precious metals has served clients all over the United States. The coins on display at U.S. Money Reserve’s full-service e-commerce site capture attention.
The site could capture the attention of people new to precious metals. These “newbies” may be wondering about gold and silver’s dual outlook for 2018. Rothans, the Chief Numismatist for U.S. Money Reserve recently looked at what forecasters are saying.
In an interview, Rothans noted that people should look at 2017 when concerned about 2018’s direction. Rothans points out that gold performed in a stable and steady manner during 2017.
That turned out to be quite the surprise to many in the precious metals world. 2017 was a year marked by economic anxiety derived from the North Korea missile crisis, the arrival of Bitcoin on the scene, and more. Gold held its own though. So, some are bullish about 2018.
A review of what gold analysts some predict for 2018 reveal Goldman Sachs’ low of $1,200 to ABN AMRO, Sharps Pixley, and Macquarie suggesting highs of $1,400 per ounce. Do these predictions hold any weight? Predictions and speculations reflect opinions.
The sources for these opinions are credible financial institutions, but things can and do change in the global markets without warning. Still, the opinions and predictions from analysts deliver value for those looking to educate themselves about the market.
And what about silver?
In comparison, silver experienced a volatile 2017. A significant crash occurred at one point during the year. Analysts seem to believe, however, that 2018 may be a “steady” year for silver. Some do predict the price rising to $19 per ounce. Read more: US Money Reserve | Twitter and US Money Reserve | Facebook
Various other factors may contribute to the demand for silver and gold in 2018. An increase in consumer preferences for silver jewelry, for example, might drive up the price of silver.
And then there are industries that rely on functional purposes for silver. The solar energy industry reflects one area where businesses maintain an industrial use for the metal.
Gold prices might be affected by a potentially weak dollar. If the value of the dollar declines, the price of gold usually increases. Gold mining could be reduced in 2018, an event that impacts demand and price.
To see if predictions turn into realities requires a “wait and see” approach. No one can truly determine what’s in store for gold and silver in 2018 until the year runs its course.
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