Top Stories This Week: Why Gold Hasn't Taken Off (Yet), EVs Set for a Strong Year | Summary and Q&A

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February 4, 2022
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Investing News
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Top Stories This Week: Why Gold Hasn't Taken Off (Yet), EVs Set for a Strong Year

TL;DR

Gold is behaving similarly to the 1970s, with a potential big move to the upside in the next few years.

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Key Insights

  • 🏅 Gold's behavior resembles that of the 1970s, suggesting a potential significant increase in the future.
  • 🏅 The Federal Reserve's concern about inflation is causing market watchers to focus on gold.
  • 🚙 Electric vehicle sales doubled in 2021, with expectations for continued growth in 2022.
  • ✋ Subsidy cuts in China and high prices for battery metals pose challenges for electric vehicle manufacturers.
  • ☠️ Market watchers predict one or two rate hikes by the Federal Reserve in 2022.
  • 🏅 Gareth Soloway expects gold to reach $3,000 to $5,000 per ounce in the next five years.
  • 💚 The green energy transition is gaining traction, driving the demand for electric vehicles.

Transcript

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Questions & Answers

Q: Why isn't gold doing better despite concerns about inflation?

According to Gareth Soloway, gold's behavior is similar to the early 1970s when it consolidated before experiencing an epic move to the upside. This pattern suggests that gold could have a significant increase in the future.

Q: What is Gareth Soloway's prediction for gold's price in the next five years?

Gareth expects gold to reach a range of $3,000 to $5,000 per ounce in the next five years, although the increase may not be as significant as in the 1970s.

Q: How many rate hikes are expected this year?

The number of rate hikes is uncertain, but according to a Twitter poll, most respondents believed there would be one or two rate hikes in 2022.

Q: What are the challenges for electric vehicle manufacturers?

Electric vehicle manufacturers face challenges due to subsidy cuts in China and elevated prices for battery metals like lithium. These factors may impact their ability to maintain competitive pricing.

Summary & Key Takeaways

  • Gold has regained ground after dropping post the Federal Open Market Committee meeting.

  • Gareth Soloway suggests that gold is replicating its price pattern from the 1970s, which could lead to a significant increase.

  • The future of electric vehicles looks promising, but challenges remain due to subsidy cuts and high prices for battery metals.

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