The going looks good for gold

With inflation fears rising and interest rates nailed to the floor, the outlook for gold is bright, says John Stepek.

Gold bar © Getty Images/iStockphoto
Gold and silver are in a bull market
(Image credit: © Getty Images/iStockphoto)

Is gold set to hit fresh records? Citigroup’s analysts this week said “it is only a matter of time” before the yellow metal surpasses its 2011 dollar high of just over $1,920 an ounce. The investment bank also reckons there’s a 30% chance that gold will go above the $2,000 mark within the next five months. Yet gold is already at, or near, all-time highs in almost any currency you care to mention. Given all this, you might be wondering (particularly as a sterling investor): can gold really go much higher from here?

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.