For several years now CPM has been writing and talking about gold rising to a cyclical peak some time in 2024 or 2025 and then backing off. With all of what is happening now politically, economically, and financially in the world there is a possibility that prices could be in the midst of reaching this cyclical high.

CPM’s view is that the markets are at the beginning of this stage of sharper price increases that we have been projecting for years. We do not think this is the peak but the start of a push toward what may prove to be a cyclical peak at some point in the next several months. Our reports to clients and public statements have made it clear that our expectations are that gold and silver investment demand and prices most likely will continue to rise to new record levels over the remainder of the fourth quarter 2024 and well into the first quarter of 2025.

Obviously short-term periods of profit-taking are possible throughout this time. Indeed, depending on the execution of the U.S. Presidential and Congressional elections on 5 November, and the aftermath thereof, prices could come off sharply if briefly. Or they just as easily could spike higher.

It is not just the U.S. elections that are heightening market uncertainties and risks. There are any number of governments and other entities

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Courtesy of the CPM Group