Gold Price News and Forecast: XAU/USD prices seen higher at $1800 by end-2020
|Gold prices seen higher at $1800 by end-2020
Ole Hansen, Head of Commodity Strategy at Saxo Bank, said in its latest client note, gold prices could push higher to $1800/ troy ounce by the end of this year.
Key quotes (via kitco.com): “The gold market appears to be in a holding pattern around $1,700 an ounce and it could stay that way for most of the year. From a gold investment perspective, it's not really what's happening today or tomorrow or next month, it’s what lies ahead in six to 12 months and beyond.
Gold to rally over 80% over the next 18 months
Gold prices will rally more than 80% to $3,000 per ounce in the next 18 months, as trillions of dollars of monetary and fiscal stimulus launched by authorities across the globe are likely to put incredible pressure on the fiat currencies, Bank of America analysts said in a note on Monday, according to Business Insider.
Key points: "Gold is the ultimate store of value during the severe economic downturn. Beyond traditional gold supply and demand fundamentals, financial repression is back on an extraordinary scale."
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