$3000 Prediction for Gold and Precious Metals Continue To Rally
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Spot gold climb as high as $2,070 per ounce, recording its best weekly run since the Global Financial Crisis, while spot silver nearly touched $30/oz.
Investors are counting on even more spending in the U.S. while markets latched on to comments from San Francisco Fed President Mary Daly that the U.S. economy will need more support than initially thought.
Goldman Sachs said gold may climb to $2,300/oz. and RBC Capital is putting the odds of a rally to $3,000/oz.
Investors see gold as an asset that should hold its value as the health crisis and money printing by central banks erode the value of others.
Real returns on U.S. bonds in normal times a much more popular perceived safe asset than gold
Bank of America says prices could hit $3,000 within 18 months.
Photo by Crissy Jarvis on Unsplash
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