GoldAccording to Fat Prophets, a fund manager company, this could reach new heights of $2100 an ounce.

U.S. dollarDavid Lennox of CNBC stated that weakness and inflation could be factors which will increase precious metal’s price. “Street Signs Asia”Tomorrow is Monday.

He said that “we do believe, across the course 2022, the gold prices will test at all-time records highs but once it gets there, we don’t expect it to travel far beyond those levels.”

Data provider Eikon reports that gold closed at $2,063 per ounce in August 2020. On Wednesday, it was traded at $1,814 an ounce in Asia.

Lennox claimed that everything looks in place for the U.S. to drop, although it still hasn’t occurred yet. Lennox said that the weakening greenback would mean a boom for gold.

Meanwhile, inflation in the U.S. is close to 6% — up from around 1%, he said. The gold can be used as an insurance against inflation, and it will increase in value as the dollar falls. its track record has been spotty in the past.

He said, “We believe high inflation momentum and a lower U.S. Dollar will drive the gold prices higher in 2022.”

Lennox suggested that tensions in geopolitical relations between military majors could lead to higher gold prices sooner than originally anticipated.

Particularly: Russia’s military presence along its border with UkraineHe said that the pressure has been increasing and it is “a focal point where it could quickly become something disastrous”.

“If that happened, then we would see the gold price reacting quite significantly and our …  $2,100 an ounce [target]”It would likely be sooner than we thought,” he said.