Banyan Gold Corp. (TSXV: BYN, OTCQB: BYAGF)
The New Yukon Gold Rush
Curious about the future of gold and silver? In an exclusive interview with Charlotte McLoud , Levi Gunter, OneGold Sales and marketing manager at APMEX, shares his insights on the 2024 drivers impacting the precious metals market, saying that with so many factors working in their favor he remains bullish on both precious metals in 2024 and beyond.
Levi Gunter’s bullish predictions for gold and silver in 2024 suggest a promising future for precious metal investments. With strong market momentum, declining premiums, and influential market factors, gold and silver hold substantial potential in the coming year.
“There are a lot of potential drivers there (for gold),” he said. “I’m just looking at what happened last year — a lot of those tailwinds I think are going to persist into 2024 without maybe as much of a headwind via Fed policy or rate hikes.”
Apmex is the largest physical Metals retailer in the US, and OneGold, a vaulted platform created as a partnership between Apmex and Sprott Asset Management, is gaining traction as a reliable platform for selling gold, silver, and platinum.
In 2023, there was a remarkable surge in the sales of gold and silver. The decline in trust in banks, triggered by Silicon Valley Bank going under FDIC receivership, led customers to seek alternative investment opportunities. The growing discomfort in holding liquid assets in banks propelled customers to turn to gold as a natural refuge. Additionally, customers gravitated towards widely recognizable and highly liquid gold products, leading to increased sales of gold and silver.
Gold and silver sales in 2023 ranked in the top five in the history of Apmex, signaling a strong and continued momentum in the precious metals market. As signs point towards a movement for gold in the United States, driven by persistent inflation and uncertainty, the market is showing resilience and potential for further growth.
The premiums of gold and silver have been significantly impacted by major events. Supply chain disruptions and operational limitations during the pandemic inflated premiums in 2020. The silver squeeze movement and other catalysts continued to drive premiums to record levels in recent years, but a normalization trend has been observed.
The premiums of gold and silver are showing a downward trend as the mint’s capacity operates at full capacity, balancing the supply with the demand. The normalization of premiums indicates a positive outlook for the precious metals market in the near future.
The year 2024 presents a bullish outlook for gold, driven by geopolitical uncertainty and global economic conditions. Factors such as the FED policy shift, ongoing uncertainty, and potential rate cuts suggest a promising landscape for gold investments.
The FED policy shift, geopolitical events, uncertainty, and the potential trend towards dollarization are identified as key drivers influencing the gold and silver market in 2024. Exploring the impact of potential rate cuts and the trend towards dollarization on gold investments reveals compelling insights about the market dynamics.
The appeal of gold and silver spans a broad audience due to their attributes of wealth preservation and accessibility. With OneGold platform catering to both new and seasoned investors, the auto invest feature further adds to the appeal by allowing fractional gold purchases, appealing to investors with varied liquidity levels.
