Have gold prices reached their peak? [Video]

Phil Carr The Gold & Silver Club

Gold has been on an incredible bull-run throughout 2020, with the precious metal surging over 35% this year.

A global outbreak of the worst pandemic in history combined with unprecedented levels of quantitative easing by central banks world-wide propelled the precious metal above $2,000 an ounce for the first time ever this month.

On Tuesday, Gold retreating sharply back below $1,900 amid optimism that Russia had approved "the world's first Covid-19 Vaccine".

The announcement prompted hedge funds and investment banks into a cascade of profit-taking from Gold’s breakout run to record levels.

Overall, the bull market in precious metals remains intact.

Whilst gold remains vulnerable to further weakness in the near-term – it goes without saying – the fundamental backdrop for precious metals remains extremely bullish in the long-term. My advice is to stay nimble, use a research-driven approach to capitalize on every move with ultimate accuracy and routinely take profits off the table!

Where are prices heading next? Watch The Gold & Silver Club Commodity Report now with Phil Carr for the latest price forecasts and predictions:

Author

Phil Carr

The Gold & Silver Club

Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.

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