If you read our final mid-week briefing of 2019 back in December, you may recall that we ended with a prediction; gold was going to be a strong investment choice in 2020. Just eight days in and our expectation is already spot on, with gold hitting an eight-year high yesterday (Tuesday) after a flurry of demand.
The precious metal gained $30 in afternoon trading as simmering tensions in the Middle East boiled over once again. The assassination of an Iranian general in a US-led air strike has provoked retaliatory attacks, with several US bases attacked in the last 24 hours. Just before 20.00 ET last night, gold was trading at a robust $1,606. This is the first major price leap of the year but, with relations strained and more incidents expected, gold is likely to rise further. Buy now.
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