The next move is being wondered after the price of gold exceeds $ 1800. According to the investment company Haywood Securities, it will not be surprising that the price sees $ 1923 this year.
The continued impact of the epidemic and trade wars leads people to gold. The price of precious metal rises as investors flock to the safe haven asset.
The price of ounce gold went up to $ 1817 on Wednesday. This level has not been seen since 2011.
London-based online physical gold trading platform BullionVault reported that demand for gold has broken records. BullionVault holds more than 40 tons of gold and their total value exceeds $ 2.5 billion.
On the other hand, Ray Dalio, the founder of the Bridgewater Associates free fund, who made a speech to Bloomberg this week, emphasized that one of the important reasons for investors to pursue gold is that governments issue more money.
Where is the next target in the price of gold, which has surpassed $ 1800 recently?
According to investment firm Haywood Securities, which has more than $ 2 billion in assets under its management, precious metal can see $ 1923. “We think gold is now in the early days of a new bull market, and it would not be surprising that it reached its highest level in 2011, $ 1923 this year,” the company said in its research note on July 9. expressions were used.
The investment company predicts that the increase in economic uncertainty due to the epidemic, long-term inflation concerns, and investors’ search for a safe haven will bring high gold prices.