According to the Quadriga Igneo fund, the markets underestimate long -term risks associated with the Central Bank’s tightening of monetary policy after big money printing. According to the company manager Diego Parrilla, the price of gold can still rise to $ 3,000-5,000 per ounce in the next three to five years.
Diego Parrilla: Gold can rise to $ 3,000-5,000 in 3-5 years
This estimate comes from Diego Parrilla, a fund manager, who predicted that Gold will reach $ 2,075.47 last year. Diego Parrilla told Bloomberg in a statement, he said:
The Central Bank’s money printing really does not solve problems, delays the problem. The price of gold will benefit from being a physical being that you cannot only step.
Diego Parrilla said that worldwide money printing and extremely loose monetary policies have many long -term problems, including asset balloons. And when it comes to reducing and raising interest rates in this environment, there is a challenging job in front of the central banks. According to Diego Parrilla, the price of gold can still rise to $ 3,000-5,000 per ounce within the next three to five years.
Diego Parrilla: The price of gold may begin to rise after this event
Diego Parrilla said, “The shrinkage process will be corrupted in terms of speed. I think the driving forces for the power of Gold are actually strengthened. ” he said. Since new record levels were seen almost a year ago, gold is consolidated and trying to return to $ 1,900 on a sustainable basis. About a month ago, when the federal reserve implied the narrowing speech, he experienced a precious metal decline. When writing this article, gold prices were traded at $ 1,810.
Diego Parrilla, the central banks that will not control the economic situation after a risk of avoiding the incident of Gold can begin to rise, he said. The $ 250 million Quadriga Igneo Fund saw some losses in the first half of the year with a 22 %drop in the first six months. Bloomberg pointed out the Long position of the fund and the short position in the shares of the fund as the reason for low performance.
