The financial services company, TD Securities has revised its gold price forecast up, with its predictions now showing gold is on course for $1700 by the fourth quarter of the year. There is also the very real possibility that we’ll see $1800 according to the firm’s analysts.
In a briefing, TD Securities said its revised forecast had been driven by the impact of the coronavirus and corresponding monetary policy changes. It said, “Since TDS sees two 25-bps [25-basis-points] Fed funds cuts, one in March followed by another in April, as an insurance against the negative effects of the coronavirus outbreak, we have upgraded our gold forecast and see the yellow metal to average $1,700/oz in Q4-2020, with a high likely north of $1,800/oz.”
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