The Canadian investment bank sees gold hitting $1900 by the summer it says thanks to the economic stimulus packages being forced by the coronavirus pandemic. In its Monday trading call, the bank said “We buy gold at $1,710/oz, targeting $1,900/oz in anticipation of continued growth in investment demand amid massive and prolonged unconventional central bank stimulus.” The bank’s senior strategists say that the expectation is for the US economy to contract by around a quarter, with inflation a key worry once the economy stabilises. If inflation soars, gold could reach as high as $2100 it says.
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