U.S. GDP is weak, recession is looming, and gold will hit ATH in H1 2024 - TD Securities' Ghali
A looming recession, a slow-to-respond Federal Reserve, and a rapid cutting cycle will combine to push gold to new all-time highs in the first half of 2024, according to Daniel Ghali, Senior Commodity Strategist at TD Securities. “We're looking at gold prices rallying towards $2,100 an ounce on an average quarterly basis,” Ghali said in a recent interview with Moneytalk. “On a more tactical horizon, that can overshoot quite substantially. Really what we're looking at here is a significant undervaluation of every macroeconomic scenario other than a soft landing. We're actually expecting a U.S. recession in the ... (full story)
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