Gold remains in 'a very strong bull phase', Alamos Gold CEO tells Investing.com
Gold continues to shine. The yellow metal recently surged above the $2,500 mark, and industry leaders have expressed strong confidence in its enduring bull market.) CEO John McCluskey affirmed that the precious metal is still in"a very strong bull phase," underscoring the strategic opportunities that lie ahead for investors.The gold price surge to record levels in recent weeks has been driven by a confluence of economic factors and investor sentiment.
They also added that they don’t believe gold is currently overvalued and cite macroeconomic factors, investor positioning, and market dynamics as factors that show there is potential for further price increases. “I’ve been on record myself predicting a target of $2,650 by the end of the year,” stated McCluskey, who has been in the gold mining industry for over 35 years.
McCluskey cited political upheaval and unrest internationally, as well as the issue of U.S. debt and the strength of the economy, as long-term factors that should continue driving the price of gold to new heights.
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