Heading into 2025, he said he thinks the yellow metal will be the year\u2019s best-performing asset. <\/p>\n
\u2018I would have to take gold \u2014 and again, for me it\u2019s the risk that if we go to US$107,000 on Bitcoin, let\u2019s say, we could pull back to US$75,000 next year \u2026 that drawdown is a hefty drawdown of 30 percent or so at that point,\u2019 he said. <\/p>\n
Soloway sees potential downside for gold in the near term, with US$2,550 or even US$2,500 per ounce perhaps in the cards toward the end of 2024 or early in the new year. But for him that\u2019s not a concern. <\/p>\n
\u2018This is the kicker, right \u2014 gold is just pulling back and working off an overbought scenario,\u2019 he explained during the conversation. \u2018And so \u2026 what I want everyone to understand is that while short term there may be some weakness in gold, I think it still has a lot of upside to come in the coming year or two years \u2014 easily US$3,000.\u2019 <\/p>\n
Looking at silver, Soloway said it\u2019s trickier to gauge because it has both precious and industrial drivers. <\/p>\n
\u2018What I\u2019m expecting here in the next month or two is for silver to chop and then eventually break down and flush to about US$28 an ounce,\u2019 he said. \u2018And then once we get into that level, I think that\u2019s where you start to nibble a little bit more on the silver trade looking for that next big move to the upside.\u2019 <\/p>\n
As mentioned, he sees Bitcoin potentially rising as high as US$107,000 or US$108,000. That type of move would \u2018ignite the bulls to the maximum,\u2019 with a retreat to US$74,000 or US$75,000 possibly following. <\/p>\n
Watch the interview above for more from Soloway on gold, silver and Bitcoin, as well as the overall market.<\/p>\n
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n Heading into 2025, he said he thinks the yellow metal will be the year\u2019s best-performing asset. \u2018I would have to take gold \u2014 and again, for me it\u2019s the risk that if we go to US$107,000 on Bitcoin, let\u2019s say, we could pull back to US$75,000 next year \u2026 that drawdown is a hefty drawdown […]<\/p>\n","protected":false},"author":0,"featured_media":12958,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-12957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=12957"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12958"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}