Tag: Gold Price
It is very likely that most will simply hold onto their gold in search of even higher values. There is no real reason for anyone to take profit right now.
Reaching a value of $1,800 per gold ounce as a stable level is merely a matter of time. A new all-time high is still within reach in the next 18-36 months.
As the gold supply remains lower than the demand, paying a higher premium will be the only course of action until normalcy ensues.
Looming Second COVID-19 Infection Wave Fuels Demand for Gold as a Safe Haven, Five-digit Price Potential
A new price projection was offered by Myrmikan Capital founder Dan Oliver. He expects the Fed’s balance sheet to trigger a massive demand for gold as a safe haven asset
Gold is also a physical commodity, thus it cannot be printed in unlimited quantities like fiat currency. There is no such thing as a “gold printer”.
Gold has performed quite well as a safe haven asset during the coronavirus crisis, getting investors very excited for what the future may hold.
One also has to wonder what will happen if this plan falls apart. After all, this sentiment is all based on early data which may not be completely accurate.
On the topic of central banks, several countries are actively buying larger supplies of physical gold lately. Primarily Russia and China continue to stockpile the precious metal like there is no tomorrow.
It is equally important to look at this market from a proper time frame. A daily price chart will obviously yield more and bigger swings in terms of valuation.
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