The coming six months will be busy for gold with considerable price gains, says the multinational bank, Standard Chartered. The bank says it is bullish on gold and expects new record levels to emerge before Q3 of this year, with intensive price action in this period.
Suki Cooper, precious metals analyst at the bank said, “We maintain a positive view on gold; expect prices to retest £1,442 ($2,000/oz) threshold and reach new highs in the very near future. We believe the bulk of gold gains are likely to materialize in the first half of the year.”
Cooper cites numerous factors which make gold an attractive prospect, making a compelling case for immediate investment. She said, “Investors will continue to allocate into gold, given the likelihood of a weakening USD, real yields remaining negative, accommodative monetary policy, further fiscal stimulus, and rising inflation expectations.”
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