ReSolve Asset Management forecasts gold price rally and advises to invest in precious metal

The gold market continues consolidating below the $3,400 per ounce level as the Middle East geopolitical tensions remain regionally contained. While current events are generating some price volatility, the metal maintains its upward trend, according to Richard Laterman, Portfolio Manager at ReSolve Asset Management.

This year, gold has reached all-time highs compared to all major currencies. Notably, the precious metal has gained nearly 30% against the dollar. The rally in bullion prices coincides with congressional debates on a new US funding bill that may lead to adding nearly $4 trillion to the national debt.

Confidence in the American currency continues to erode amid trade conflicts and weakening demand for Treasury bonds. As Richard Laterman noted, even if the global economy avoids a crisis, the dollar's long-term challenges as a reserve currency may persist for years. This dynamic likely to sustain gold's appeal.