‘Something we’ve never seen before’ - VanEck’s Joe Foster on central banks buying gold
Forget worries that the economy is facing a hard landing, debt levels are the bigger risk, said Joe Foster, gold strategist at VanEck.
Foster spoke to Kitco Mining on Wednesday at the 2024 Precious Metals Summit Beaver Creek in Colorado.
Gold hit several all-time highs in 2024. Foster attributes the historically high gold price of $2,500 per ounce to increased global risk, strong central bank demand, and geopolitical uncertainties. He believes that the Federal Reserve's expected interest rate cuts will further boost the gold price. Foster also anticipates economic turmoil due to high debt…
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