Lynette Zang, founder and CEO Zang Enterprises, shared her thoughts on gold and silver prices in 2024, explaining how more and more people globally are turning to precious metals to safeguard their wealth.
“That gives me tremendous hope, because that’s who we need to wake up to what’s happening. They’re starting to buy gold, and that thrills me,” she told the Investing News Network during an interview.
“If we can get even 3 percent of the public to have a quiet revolution and convert their fiat money into sound money — physical gold and physical silver — it’s all you have to do for a quiet revolution (and) to have a seat at the table.”
The gold price has already reached record levels in 2024, a rise that Zang believes is primarily technical. When asked about the yellow metal’s potential as the year continues, she said still has much further to go.
“It would not surprise me to see it hit at least US$3,000 (per ounce) this year on the spot market,” she said.
When it comes to silver, Zang said the metal looks like it is concluding a cup-and-handle formation. In her view, that could allow it to test its previous all-time high, perhaps rising to the US$48 to US$50 per ounce level.
Zang also outlined a scenario in which gold could rise to US$40,000 and silver could reach US$2,000.
“If we had that overnight revaluation on a one-to-one basis — which is not likely, but still. Where we are in the debt markets and the amount of gold, it’s simple. You just take all the debt that’s been created and divide it by all the physical gold that exists in the ground, above the ground — it doesn’t matter. You’re looking at the true value of an ounce of gold at US$40,000,” she said. If gold and silver went back to their original ratio of 20 to 1, silver would be around US$2,000.
She also spoke about her work at Zang Enterprises, including her strong focus on community.
“Put me in front of anybody, because this is how we build community,” she said. “Not by segregating into a little silo anybody that thinks like we do. But helping everybody, including us, expand our thought process and be more inclusive.”
Watch the interview above for more from Zang on the topics outlined above.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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