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 is looking to return to its all-time August highs of above $2,000 an ounce, and this driver will get it there, according to Digix co-founder and COO Shaun Djie.
Once the election is over and the winner is determined, the next catalyst that will get gold back to $2,000 an ounce is the resurgence of coronavirus cases, Djie told Kitco News on Tuesday. This will be particularly devastating in an environment that still does not have a successful vaccine.
"You will see a lot of money managers coming back to the trading space on the backs of the election being over. The next big driver for the market will be coronavirus cases and a vaccine timeline," Djie said.
November 5, 2020 (updated November 5, 2020) Published by StockMan