Goldman Sachs Makes Gold Price Prediction

4.17.24 - Goldman Sachs Makes Gold Price Prediction

Gold last traded at $2,372 an ounce. Silver at $28.28 an ounce.

Brace for the S&P 500 to crash 30% before an even bigger collapse after the election, markets guru David Brady warns - Business Insider

For months now, domestic markets have been awash in volatility. Many of the great financial minds have been warning of an impending crash. CEOs are cashing out their positions of their own stocks en masse. Is this all just coincidence or do they see the writing on the wall?

Prepare for stocks to plunge 30%, rebound before the presidential election, then crash to their lowest level in 14 years, a markets analyst warned.

The S&P 500 is poised to plummet from over 5,000 points to an 18-month low of 3,500 points, David Brady said on the latest "Thoughtful Money" podcast episode .

Brady is a money manager, former foreign exchange trader, and the author of "The FIPEST Report" which analyzes metals and miners. He argued that stocks are massively overvalued, investors face much greater downside risk than potential upside, and a sell-off looks assured.

However, he predicted the Federal Reserve would step in to reverse the coming decline by cutting interest rates and growing its balance sheet - especially as the Biden administration will want a strong stock market and economy going into the November election.

However, he cautioned the rebound wouldn't last given mounting domestic and international pressure on the economy.

"My two cents is short term, 20-30% drop, but then the Fed responds as it always does and the market goes up," Brady said. "After the election, stocks are going to get hammered."

"I expect the stock market to drop because of what's going on in the economy and elsewhere in the world," he said about his anticipated post-election decline.