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Yvonne Blaszczyk: Gold an "Absolute Necessity," Key Factors to Watch in 2024
"I do believe that to be safe, to be certain ... gold is an absolute necessity, silver as well," said Yvonne Blaszczyk of BMG Group.
Yvonne Blaszczyk, president and CEO of BMG Group, discussed the factors driving the gold price today, including the growing influence of the BRICS nations, central bank buying, global conflicts and interest rates.
Honing in on the BRICS, she highlighted that the member countries want to reduce their dependence on the US dollar.
"This could be a turning point for the financial world and political world as we know it right now," Blaszczyk explained. "BRICS right now is I think a huge, huge competition for the hegemony of the US dollar as a reserve currency."
In her view, this shift is just one of the reasons why it's important for everyone to add gold to their portfolio.
"Gold is money, and countries that have gold will not perish. Gold will never disappear, will never be zero, will never diminish. The physicality of it is going to prevent that," she said. "I think there's a misconception, because gold fluctuates on a daily, weekly basis, but overall on an annual basis over a period of time, gold is a fabulous, fabulous place to be."
In terms of where gold is headed in 2024, Blaszczyk said she believes the precious metal is set to rise.
"On an annual basis I do believe that the price of gold will go to about — if things go conservatively — US$2,300 (per ounce) in 2024," she said, adding that it could move even higher if geopolitical turmoil expands.
Watch the interview above for more from Blaszczyk on the topics mentioned above.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
- Is Gold a Buy at US$2,000? ›
- What Was the Highest Price for Gold? ›
- Gold Price Forecast: Top Trends That Will Affect Gold in 2024 ›
- Gold Price 2023 Year-End Review ›
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
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Commodities | |||
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Gold | 2337.93 | +0.46 | |
Silver | 27.18 | +0.02 | |
Copper | 4.59 | +0.05 | |
Oil | 83.66 | +0.09 | |
Heating Oil | 2.56 | 0.00 | |
Natural Gas | 1.92 | +0.28 |
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With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Learn about our editorial policies.