Gold Latest Prices: There are many speculations about gold prices, but the prediction of Diego Parilla, who handles a Quadriga Igneo fund, has created a sensation. He believes that gold can rise to $ 3,000-5,000 an ounce in the next three to five years. This is eye-catching news for those who want to invest in gold.
More damage than relief packages
Fund manager Diego’s reasoning behind this estimate is also solid. He says that gold prices can reach new highs. Because investors do not know much about the difficulties being faced by the central banks due to the relief package being given in many countries. This is the same Diego who had predicted earlier in the year 2016 that gold would reach a new high within five years.
Dangerous asset bubbles have formed
Gold reached its all-time high of $2,075.47 an ounce last year amid the worldwide corona epidemic. However, for some time it has been hovering around $ 1800 an ounce. There is not much awareness about the long-term losses due to poor monetary and fiscal policies, he said. Deliberately keeping interest rates low has created asset bubbles that can cause huge losses if they burst, and then it can be difficult for central banks to deal with such situations and get back to normalcy.
Central banks have no control over the situation
Fund manager Diego says that the fall in gold prices was recorded in June 2021 after the Federal Reserve indicated to tighten the policy in the US. Diego believes that central banks do not have the same control over the situation as people are thinking. Parilla said, “I stand by my point that in the next 3 to 5 years, the price of gold can reach $ 5000 an ounce.”