Ole Hansen, Head of Commodity Strategy at Saxo Bank, said in its latest client note, gold prices could push higher to $1800/ troy ounce by the end of this year.
Gold’s future looks exceptionally bright in the long-term as inflation fears pick up as a result of the massive amount of liquidity that has flooded markets within the last month.
Sees gold prices pushing to $1,800 an ounce by the end of this year, hitting a new record high by 2021 and sees a long-term gold price above $4,000 an ounce.
The repercussions of what we're going through right now with the pandemic and the aftermath is going to be something that's going to be felt for at least a generation and potentially beyond.”
Reference: FXStreet
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