Why gold will hit a record high in the second half of 2020
“A mix of slow growth, easy money and black swans can propel gold to record highs in the second half of 2020. Lingering fears about lockdowns and scarring to the real economy should keep haven demand strong, but the metal could also rally in a risk-on environment, as the 2008 play book showed. Comfortably the best-performing major asset in the past year, gold soared by a quarter. That put it within levels that Markets Live foresaw at the end of 2019. With a global recession arriving sooner and cutting deeper than expected, $2,000/oz is the next target.”
USAGOLD note: Van der Walt is a macro commentator at Bloomberg and one of a good many Wall Street analysts who see gold at the $2000 mark by the end of the year.
Repost from 7-2-2020
New note 8/4/2020: Gold did not take long to shatter that old record price in the second half of the year. It blew past the old mark on July 27th to finish at $1965 by the time trading closed for the day.