BEVERLY HILLS, Calif., Aug. 6, 2020 /PRNewswire/ — Devlyn Steele, senior economic analyst at Augusta Precious Metals is known for accurate projections of the 2008 financial crisis and subsequent precious metals price hikes. He used the same calculations to release a new price projection for gold and silver by 2023.
Augusta Precious Metals today announced the company’s senior economic analyst Devlyn Steele updated three-year price targets for physical gold and silver. Based on a propriety asset value calculation model, Steele, also a member of the Harvard Business School analytics program, forecasted the price of physical gold likely will reach $5,000 per ounce by 2023. He expects silver to increase to $125 per ounce by 2023.
Market-based values of gold and silver have risen since the beginning of Q2 2020, just after the Federal Reserve announced it would do whatever is necessary to help “fix” the pandemic-damaged economy.
“Safe-haven assets such as physical precious metals have flourished when the economy is stressed,” Steele said. “In this case, striking increases are due to fears of dollar-debasing, inflationary Fed policy, as well as massive deficit spending.”
Augusta Precious Metals educates retirement savers about gold and silver to help protect their savings, including IRAs and 401(k)s. Because precious metals perform in manner uncorrelated to stocks and bonds, they help stabilize retirement portfolios.
In the last four months, the price of gold jumped 22% and silver rose nearly 70%. If precious metals prices reach Steele’s targets, it would mean additional increases of 150% and 440%, respectively.
Steele is known for accurately forecasting the 2008 financial crisis and the gold and silver bull market that followed. During that run, gold climbed 160% and silver increased nearly 400%. “The same factors that set into motion a three-year bull run 12 years ago are in place again today,” he said.
Steele and the Augusta Precious Metals analytics team work with American retirement savers to help them learn about the economy and precious metals through specialized educational materials and one-on-one web conferences. Anyone interested in learning more about these resources can contact the company via their website. Augustapreciousmetals.com
About Augusta Precious Metals
A leader in the gold and silver IRA industry, award-winning Augusta Precious Metals’ mission is to educate and empower Americans to protect their retirement and profit through true diversification. Built on generations of knowledge and experience with precious metals, Augusta helps retirement savers protect themselves from market volatility. The company’s lifetime customer service has earned many high ratings and reviews. Augusta earned more than 98% five-star reviews at TrustLink.org and is rated A+ by the Better Business Bureau and AAA by the Business Consumer Alliance. For more information about a silver or gold IRA from Augusta Precious Metals, visit Augustapreciousmetals.com or call 800-700-1008. Find Augusta on social media at Facebook, Youtube and LinkedIn
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SOURCE Augusta Precious Metals