Gold price poised to resume bull market run in 2019-2020

London (Dec 24)  Precious metal gold, which has been mostly ignored by investors this year, is in the midst of a solid recovery in December, and projected to be getting its safe-haven moment again soon.

Gold prices were solidly higher this week, hitting a five-week high on Thursday at $1,267 per ounce.

According to the economic research consultancy Capital Economics, the end-2019 target for the yellow metal is $1,300 an ounce, followed by the $1,400 level at the end of 2020.

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“The past quarter marks a turnaround for the gold price and a sign of what is to come. Accordingly, we continue to expect gold to move higher next year – albeit by a modest $50 per ounce given the recent rally,” economists at Capital Economics wrote in a report seen by Kitco News.

They explained that the optimistic outlook was based on investor interest returning to the gold space as the end of the Federal Reserve’s tightening cycle approached.

RTnews

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