Although gold has been trading below the $2K range since May 16, 2023, Rick Rule, the founder of Rule Investment Media, is confident that the struggling U.S. economy will cause demand for precious metals like gold to skyrocket. In an interview published on May 18, Rule emphasized that people’s anxiety about the purchasing power of conventional savings methods has always been the main factor driving gold prices. According to Rule, this trend is likely to continue, and he predicts that demand for gold will increase by fourfold in the near future.
Rick Rule Forecasts Fourfold Increase in Gold Demand Amidst Global Economic Uncertainty
Amidst a turbulent global economy, both precious metals and cryptocurrencies have seen a surge in value in 2023. On May 3, 2023, gold’s price per ounce came awfully close to surpassing its all-time high, reaching $2,056 per ounce. However, the precious metal’s value has since taken a hit, plummeting to a low of $1,954 per ounce on May 18. As of today, M
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