xysoom: Higher Gold Prices Ending the Year
Higher Gold Prices Ending the Year
The gold market is seeing significant momentum with prices hitting a fresh nine-year high, pushing above $1,840 per ounce. One research company still expects to see higher prices through the end of the year.To get more news about WikiFX, you can visit wikifx news official website.
In a report published Tuesday, James O Rourke, commodities economist of Capital Economics, indicated that his company now sees gold prices ending the year around $1,900 per ounce, higher than its previous target of $1,600 per ounce.
“We reckon that inflation breakevens will drift higher, back to pre-pandemic levels, as economies recover from their lockdown-induced slumps,” he said in the report.
Capital Economics also expects to see a weaker USD in the second half of 2020. This will provide another impel for gold, ORourke said.
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