Gold prices seen higher at $1800 by end-2020 – Saxo Bank

FXStreet/Dhwani Mehta

graphic image of investor holding gold bar with three bears in the background“[Saxo Bank] sees gold prices pushing to $1,800 an ounce by the end of this year, hitting a new record high by 2021 and sees a long-term gold price above $4,000 an ounce. If ever there was a time where it made sense to put a part of your savings into something tangible, then I think that is now.”

USAGOLD note:  Given the complexities involved with the evolution of three major crises simultaneously – the pandemic, the oil collapse and the slow-motion unraveling of credit and financial markets – it is going to be very difficult to time short-term gold market speculation. Anything can happen in this chaotic situation. The best approach, in our view, is to buy the physical metal outright for long-term storage in order to be fully positioned for the time when the gold price does go into a full-out, upward trajectory.


Image courtesy of Visual Capitalist


Repost from 4-23-2020

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