The commodities firm, CPM Group, which also publishes the Gold Yearbook, says that record highs are imminent for gold – making now the opportune moment to buy. In the just published Gold Yearbook 2020, it says that gold will reach unprecedented highs in the medium term, as governments grapple with the spread of the coronavirus and subsequent economic recovery.
“CPM Group is working under the assumption of a short but deep global recession during the first half of this year followed by a strong recovery during the second half of the year in some parts of the world. It is a human tragedy, which has the ability to drive the global economy into a recession. Coordinated efforts are being made by both governments and central banks to contain the virus and the negative economic fallout of this containment effort. Gold is in good shape for the remainder of this year and the medium term.”
The gold experts also said that now is the time to invest in gold as a safe store of wealth during what would be a prolonged period of economic uncertainty, saying “We see the next five years, maybe longer, as being particularly hostile to consumers, investors, and small enterprises for a variety of reasons, and thus a time when investing in gold makes more sense than it did in seeming more placid periods such as the late 1990s.”