Global Gold prices have been on the rise since March 2020, from the lows of $1,458.8 an ounce, to the recent highs of $2,089.2, registered in August 20 this year, which is a 43.2 percent upside in just 6 months.
However, the prices have corrected marginally from these highs, and are currently trading near $1,900. We expect this bullish move to continue in gold from the current levels in the backdrop of the following points:
1) Highly stimulative monetary policies by the world’s key central banks: Global Central banks are putting all efforts to support their local economies via easing monetary policies. The Bank of England has said last week that it will increase its purchases of government bonds by £150 billion, £50 billion more than investors had been expecting. The Reserve Bank of Australia cut its official cash interest rate to 0.10 percent. Meanwhile, BOJ, ECB and the FED have […]
November 13, 2020 Published by StockMan