It is anybody’s guess as to how high gold prices will climb in the pandemiconomy. The consensus is that it is only a matter of time before it hits $1,900 or $2,000. But what about anything above $2,000?
Citibank wrote in a research note that there is a 30 percent probability that the precious metal will top $2,000 per ounce within the next three to five months.
“Nominal gold prices have already posted fresh records in every other G-10 and major emerging market currency this year,” the Citi analysts said. “It is only a matter of time for fresh highs.”
But the other story, according to Citibank, is silver. As investors search for a store of wealth, the white metal has hit its best level in three years. At the time of this writing, silver is trading above $20.
Record exchange-traded fund inflows, ultra-aggressive monetary policy, low bond yields, and increased asset allocations. There are many factors driving this bullish market. Considering how high gold is expected to go, there are plenty of deals to be had.
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