Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) Gold’s path to new record highs is still intact despite November’s disappointing price action, said OANDA senior market analyst Edward Moya, who is looking towards the $2,300 an ounce price target during the first half of 2021.
Positive vaccine news triggered a selloff in the precious metals space as investors start to price in a stronger economic recovery, Moya told Kitco News on Wednesday.
"Gold has been a very difficult trade in the sense of explaining some of these daily moves. The main driver for people has been that safe haven play. We saw all these vaccine announcements these past two Mondays, which are just great news for the hope that we’re turning the corner," Moya said. "That really […]
November 21, 2020 (updated November 21, 2020) Published by StockMan