Sentiment around gold remains firmly bullish as the US presidential inauguration gets underway with precious metals experts from MKS the latest to add their voice to calls for further historic highs in 2021.
The firm’s analysts see gold on course to breach its previous all-time high and reach at least £1,657 ($2,300) this year, according to remarks made yesterday (Tuesday). The experts citied continuing economic and fiscal uncertainty and a weakening US dollar as being bullish for gold, echoing projections from a raft of other experts and institutions.
The analysts said, “While the global economic recovery shows some positive signs, we will continue to face uncertainties, especially in the first half of the year. In the context of low global real interest rates, a slow recovery in growth, higher market volatility and a weakening USD, gold shall remain the asset of choice in investors portfolios as a safe haven and insurance against disruptions…we expect gold to move towards new all-time highs.”
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