Gold prices have jumped substantially around the world. May be market uncertainties is providing the floor to Gold. What is the forecast for gold prices in a year time?
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Gold prices have jumped substantially around the world. May be market uncertainties is providing the floor to Gold. What is the forecast for gold prices in a year time?
Gold prices are expected to trend upward in the short to medium term due to economic uncertainties. So, yes prices are highly likely to go up in 2020.
World Bank, in its latest report, forecasted that gold prices to go up by 5.6% in 2020, reaching nearly $1,600 an ounce.
There are more upside risks to gold prices owing to uncertainty and weak global economic growth prospects. In recent months there was more physical demand for gold across the globe. Interest rate cuts by the US Federal Reserve also fueled gold prices.