Commodity report: Gold price forecast – April 2020 [Video]
|Over the last quarter, Gold has climbed by almost 15% – to post its strongest quarterly gain on record since the 2008 Global Financial Crisis.
And this could just be the beginning. As central bank’s across the world embark on the largest money printing program ever in history, alongside a backdrop of global economic uncertainties – there is little reason to believe the long-term uptrend in gold prices will change anytime soon.
As we enter the second quarter of 2020, the price action across the metals complex continues to resemble the trend last seen during the Global Finance Crisis.
If history is anything to go by, then the stage is almost certainty set for gold prices to soar further and reach fresh 2020 highs in the months ahead.
A key event this week that could determine gold next big move – is The Federal Reserve's March meeting minutes, due for release on Wednesday at 2:00 PM ET.
The minutes will cover two emergency meetings held by the Federal Open Market Committee last month (on March 3 and March 15) when it slashed interest rates to near zero and also announced “Unlimited Quantitative Easing”. These are some of the most aggressive measures ever seen from the central bank that go beyond those used during the 2008 financial crisis.
Traders will be monitoring the minutes closely for new insights on how far the Fed is willing to go with its unprecedented money printing program, but more importantly – if they still have any ammunition left to deal with any future shocks to the global economy.
Where are prices heading next? Watch The Commodity Report now, for the latest Gold & Silver Club price forecasts and predictions:
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