Gold has set out its intensions for the second half of the year, storming to an 8.5 year high in trading yesterday (Tuesday). It soared by £16.07 ($19.90) to reach £1,454.81 ($1,800.90), its highest rate in almost a decade – this surge gives further credibility to widespread predictions that a break to record highs is on the cards for this latter half of 2020.
A major spike in coronavirus cases pushed the gains, with several US states closing up as almost 44,000 new cases were confirmed in one day. Dr. Anthony Fauci, who has been advising White House efforts, warned that figure could reach 100,000 per day. On Tuesday, he testified before a Senate Committee hearing that things could get “very bad”, leading to a substantial increase in safe haven demand.
It looks very likely that record highs are now imminent for gold. Act quickly, buy now.
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