“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 Chief Executive Officer of BMG was interviewed by Charlotte McLeod of the Investing News Network, delved into the current factors propelling the gold price, citing the growing influence of BRICS nations, central bank acquisitions, global conflicts, and interest rates.
Focusing on the BRICS alliance, she emphasized their endeavor to lessen reliance on the US dollar. “This could mark a significant shift in the financial and political landscape as we currently understand it,” Blaszczyk elucidated. “BRICS presents a substantial competition for the dominance of the US dollar as a reserve currency.”
According to her, this transition underscores the importance of integrating gold into investment portfolios. “Gold holds intrinsic value, safeguarding nations that possess it. Its physical nature ensures its enduring presence,” she asserted. “Although gold experiences daily fluctuations, its long-term trajectory underscores its reliability as a strategic asset.”
Regarding the trajectory of gold in 2024, Blaszczyk anticipates an upward trend. “I foresee the price of gold reaching approximately US$2,300 per ounce by the end of 2024,” she projected, noting the potential for further escalation amidst escalating geopolitical tensions.