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
Goldman Sachs analysts recently shared their outlook on the gold market. Forecasting a bullish gold trend is remarkable, but necessary given the current circumstances.
While it is true that COVID-19 has created havoc among economies worldwide, there have to be better solutions than printing money out of thin air.
During times of uncertainty, precious metals tend to become more popular, and by default, rise in value. This is especially visible when looking at the prices of both gold and silver.
Economists are convinced that this latest rate cut is a direct result of the Turkish Lira bouncing back strongly. When it hit record lows earlier in May, there was some genuine concern
One thing that is certain is how the pandemic has been beneficial to precious metal markets. Gold’s price has bounced back strongly after dropping to the low $1,260 range.
It is the first time in history that so much “extra money” is brought into circulation in quick succession. No one knows what the consequences will be.
This is already becoming apparent across nations that seemingly thwarted the coronavirus outbreak. South Korea and China deal with a rise in overall infections,
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Disclaimer: This information is not financial advice, and should not be treated as a recommendation to buy or sell. It is to be used for educational purposes only.