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Gold Price Will Shatter Highs

Gold Highs

EDITORS NOTE:  Protect your assets and your hard earned money.  With stocks tanking, bailouts happening, and inflation right around the corner gold and silver are the smart investments.  

The gold price is set to hit new 2020 highs amid rising demand from institutional investors, who seek safe havens during economic uncertainty.

  • UBS Investment Bank has predicted that the price of gold will break its 2020 highs, as more institutional investors demand a safe haven.
  • Other analysts predict that the gold price could hit an all-time high against the U.S. dollar this year or the next.
  • Gold’s price all depends on just how deep and serious the coronavirus recession in the U.S. is.

Gold will be one of the big winners of the coronavirus. With the Fed’s quantitative easing program set to “unlimited,” and with the underlying economy struggling, investors will increasingly push the gold price to new highs.

In the near term, UBS Investment Bank has predicted the price of gold will break $1,800 an ounce. Today, it pointed out that gold ETFs have seen the highest quarterly inflows for four years.

Clearly, investors are desperate for a safe haven amid global uncertainty. In their desperation, they’re likely to drive the price of gold to new 2020 highs very soon. Perhaps even all-time highs.

Speaking to CNBC’s Squawk Box Asia, UBS precious metals strategist Joni Teves said the gold rush came from:

…[a] pickup in investor interest, particularly from institutional investors.

  • UBS Investment Bank has predicted that the price of gold will break its 2020 highs, as more institutional investors demand a safe haven.
  • Other analysts predict that the gold price could hit an all-time high against the U.S. dollar this year or the next.
  • Gold’s price all depends on just how deep and serious the coronavirus recession in the U.S. is.

Gold will be one of the big winners of the coronavirus. With the Fed’s quantitative easing program set to “unlimited,” and with the underlying economy struggling, investors will increasingly push the gold price to new highs.

In the near term, UBS Investment Bank has predicted the price of gold will break $1,800 an ounce. Today, it pointed out that gold ETFs have seen the highest quarterly inflows for four years.

Clearly, investors are desperate for a safe haven amid global uncertainty. In their desperation, they’re likely to drive the price of gold to new 2020 highs very soon. Perhaps even all-time highs.

Speaking to CNBC’s Squawk Box Asia, UBS precious metals strategist Joni Teves said the gold rush came from:

…[a] pickup in investor interest, particularly from institutional investors.

Gold Price Is Golden

Prior to the coronavirus, the price of gold wasn’t so hot. In August 2018, gold demand fell to its lowest level since 2009. The U.S. and global economy had been picking up. Accordingly, investors preferred riskier assets.

Markets witnessed similar lows for the gold price in April 2019. In November, gold suffered its biggest weekly drop in three years. Again, markets were were optimistic about improving U.S.-China trade relations.

How times have changed. Gold has increased by....

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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

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