Experts agree that the coming year will be favorable for gold. Temporary subsidence will be replaced by a rise at the mark of $2000 per 1 ounce. This will be one of the steps on the path of growth of the precious metal.
According to the calculations made by analysts of the investment bank Standard Chartered, this year the metal will please investors with a rise above $2000 per 1 ounce. According to experts, in the first half of 2021, a noticeable increase in the price of the precious metal is expected. The bank believes that in the first six months of this year, the US Dollar will continue to weaken, which is favorable for gold. The metal is also supported by the soft monetary policy of the US Federal Reserve.
Today, January 15, the precious metal is gaining momentum amid the adoption of a new package of stimulus measures by the Joe Biden administration. At the end of this week, gold is trading near $1851–$1852 per 1 ounce, trying to rise higher.
Last year, the precious metal experienced its finest hour. In August 2020, gold was trading at $2,089 per 1 ounce. However, risk appetites have now increased among investors which is why they are buying less precious metals. As a result, by the end of 2020, gold fell to $1,841.
In the coming year, many analysts expect the growth of the precious metal to continue. According to experts, the current correction of Gold was triggered by an increase in the yields of US government bonds. Some analysts expect the price of gold to rise to $2,300 per 1 ounce and maintain high prices in 2021. Support for the metal is provided by the growth of inflationary processes against the background of large-scale fiscal incentives in the United States. This year, demand for gold will remain high due to economic instability and increased volatility in global markets.
Experts of the World Gold Council (WGC) hold a similar point of view. According to the forecast for the pricing of the metal for 2021 presented by the WGC, more investors will be interested in gold. For many market participants, the precious metal remains one of the most attractive protective assets, which helps to keep savings in the long-term planning horizon.
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