Fund Manager Forecasts Gold’s Return to $5,000 Price Level
Gold could eventually climb back to $5,000 an ounce, although investors may have to wait several years for the metal to reach that level. This is according to David Miller, CIO and co-founder of Catalyst Funds and portfolio manager of the Strategy Shares Gold Enhanced Yield ETF. Speaking in a recent interview, Miller said gold’s long-term outlook remains positive despite the market’s recent consolidation after a sharp rally. He estimates that the metal could take approximately two or more years to return to $5,000. Several forces continue to support gold, including persistent government deficits, inflation and efforts by central banks to reduce their reliance on the U.S. dollar. Miller expects central-bank demand to remain…