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If you have been waiting for a sliver of opportunity to buy gold, the time is now – the precious metal was down $18 yesterday (Thursday) as a result of profit taking and a combination of higher oil costs and a lower dollar index. It dipped to $1,696.50 during trading – but is forecast to rise significantly through the rest of the year so buy now to be in prime position.

The temporary lull was also helped along by a small uptick in risk appetite mid-week, as reports suggest that a coronavirus vaccine being developed by researchers at Oxford University could show signs of working as early as June or July. Some states have also started to slowly restart their economies in the US and there are indications that a slight relaxing of restriction may be on the way in the UK. Of course, the massive toll on global economies is not going to be resolved anytime soon, putting gold in the driving seat longer term.

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