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**ALERT** Big European BANK Just Said THIS About Gold Price.... (Silver Price Too!) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

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  Are you nervous about the gold price and the silver price?
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  What if we just got news from a massive European bank who's
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  predicting that next year the gold price could average above
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  $2700 per oz? What do you think that means for
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  the silver price? Basement dwellers, that means
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  good news on the horizon for precious metals.
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  We're going to talk about that in this video First I want to
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  say thank you for being here thank you for being part of the
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  basement yes you I'm talking to you.
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  You're very important. We appreciate you being here.
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  Please subscribe to the channel, give the video a thumbs up and
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  super chat. Super thanks are always super
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  appreciated. So if you heard of ING Bank ING,
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  it's a big Dutch European bank. They've got like 60,000
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  employees. They're present in 40 different
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  countries. But hey, what do we want to hear
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  about? We want to hear about what
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  they're saying about precious metals.
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  And we've got a great article from Kitco that brings us up to
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  speed on some very fascinating ideas research they have done
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  that points towards much higher prices for the precious metals.
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  And there's a couple of things they forgot.
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  See if you can pick up on them during my coverage of this
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  article, but I'll be sure to share them with you at the end
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  of the video. Gold Rally is just getting
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  started. Fed cuts will drive prices above
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  $2700 in 2025. That's according to IN GS Manti.
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  This article from Kitco by Ernest Hoffman.
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  There's ING You probably recognize that says the gold
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  rally is only just beginning and the most eagerly anticipated US
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  rate cut in decades will drive prices to new all time highs
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  this month. Here's a graphic showing us yet
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  again that central banks keep adding to their gold hordes.
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  She pointed out that the gains were driven primarily by
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  expectations of an interest rate cut from the Federal Reserve,
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  strong central bank buying and robust Asian purchases, along
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  with safe haven demand due to the heightened geopolitical risk
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  and US election uncertainty. Then she talks a lot about the
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  Fed. Now, the first thing that I'd
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  like to add that I didn't see talked about in this article is
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  sure, we can focus on the Fed cutting rates, but what's the
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  other side of that coin? What if we get another bout of
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  runaway inflation in 2025 as a result of these Fed rate cuts?
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  That too could easily drive the price of precious metals much,
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  much higher. She says gold prices have gained
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  after Powell affirmed expectations that the US central
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  bank will soon start cutting interest rates.
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  The question for the gold market now is the pace at which the Fed
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  will ease its policy or again, will add the pace at which
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  inflation starts to skyrocket after the Fed even does two or
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  three rate cuts. US economist believes that the
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  central bank will opt for A50 basis point move, but it's a
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  close call, she said. I hadn't heard that.
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  What I'd heard is in, in what the what the CME Fedwatch tool
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  shows is that there's about AI don't know 75% chance right now
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  that we will get a quarter point rate cut in about a 25% chance
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  that we will get that 50 basis point or half a percent rate
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  cut. Gold backed ETF demand has also
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  seen a resurgence over the summer.
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  Quote global gold ETF saw inflows four months in a row
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  with all regions recording positive flows and Western funds
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  leading the way in August, Western funds leading the way in
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  August. This shows month by month what
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  we've had for a gold ETF and probably silver ETF also
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  inflows. As you can see over here on the
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  right hand side, we just started to get positive inflows into the
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  market. What's 2 critical points on
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  this? Number one, the West has joined
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  the party, right? the United States, the most
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  wealthy country in the world #2 this area back here from what
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  about April of 23 through April ish of 2024, we had outflows
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  from the ETFs. And Despite that, the precious
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  metals prices were strong. This could be a new source of
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  major wind in the sails for the precious metals market.
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  Quote Investors. Holdings and gold ETFs generally
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  rise when the gold prices gain and vice versa, she said.
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  However, gold ETF holdings have been in decline for much of
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  2024, while Spot gold prices have hit new highs.
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  ETF flows finally turned positive in May.
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  And again, she's basically restating but not bringing up
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  the important point how critical it was that the precious metals
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  prices did very well in an environment where there was
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  outflows from the ETFs. Then they talk about the COMEX
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  futures. Net longs rise further.
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  Despite the yellow metal hitting new all time highs in July.
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  Central bank gold demand strengthened further during the
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  month. Reported net purchases by
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  central banks more than doubled to 37 tons in July.
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  Here's a here's a graphic of the amount of gold being added by
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  the world central banks. This is on 1/4 by quarter basis.
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  As you can see, Q1 of 2024, Q 2 of 2024.
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  We are just seeing the central banks continue to engorge
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  themselves on gold. This is where it gets
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  interesting. ING believes the first Fed rate
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  cut will be enough to drive gold prices to new all time highs.
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  OK, that's right around the corner, guys. the US
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  presidential election in November will also continue to
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  add to gold's upward momentum through to the end of the year,
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  she said. Geopolitics will also remain one
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  of the key factors driving gold prices.
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  The war in Ukraine, in the Middle East and tensions between
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  the United States and China suggests that safe haven demand
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  will continue to support gold prices in the short to medium
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  term. Central banks are also expected
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  to keep adding to their holdings, which should offer
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  support everywhere we turn. Are you noticing this?
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  We're seeing sources of support. I think we need to focus in on
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  the presidential election coming up in November in the United
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  States. I don't know that it's been
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  priced in the potential for turmoil.
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  I hope it's not the case, but there are some people who are
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  afraid of political turmoil, social turmoil potentially.
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  And I'm not saying I think it's going to happen, but it
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  certainly is not without with outside of the realm of
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  possibilities as we head into what most people will say is the
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  most contentious presidential election in any of our
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  lifetimes. ING now sees Spot gold averaging
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  2580 dollars in the fourth quarter.
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  That's 20 days from now, guys. Gold's upward momentum will
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  continue next year with 2025 prices prices prices averaging
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  $2700 per oz, she said. So there you have it guys, one
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  of the world's biggest banks, 60,000 employees operating in 40
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  countries, telling us a multitude of reasons why we
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  should be paying attention to the precious metals prices.
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  These videos, our ability to come together and hang out in
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  the basement aren't possible without the support of our
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  sponsors. You can learn more about them at
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  their websites. I'll put links to that in the
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  description of this video. Thank you for being here.
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  You really are the most important part of Ron's
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  basement. Have a great rest of your day
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  and I'll see you soon.