GFMS says ‘$1700 later in the year’

RefinitivGFMS/Review & Outlook/January 2020

photo of gold bullion bars“While demand from key Asian markets will likely to remain weak this year, ongoing central bank purchases and renewed investor interest will lend support for higher gold prices. We therefore expect gold to average $1,558/oz in 2020, with a possibility to test and move beyond $1,700/oz later in the year.”

USAGOLD note:  GFMS reports 4% growth internationally in bullion coin sales with a dollar value rise of 20% – a minor surprise.  The research firm is usually fairly conservative on its price projections making the $1700 price prediction a surprise as well.  The full report is a comprehensive look at gold market fundamentals – on both the supply and demand sides of the ledger – and an important read.

Repost from 1-30-2020

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