Experts on the precious metals market became more active, following the US presidential election. They are confident that the demand for gold will clearly rise due to the current politician tension and economic situation.

If this scenario works out, gold will freshly shine, conquering new heights. It can be recalled that the price of the precious metal makes another surge during unfavorable periods, since a lot of investors adhere to it. Therefore, it is possible that we will witness a similar event at the turn of 2020-2021.

Investors and traders are interested in gold due to its reliability as a defensive asset. Experts are confident that strong financial aid from the Fed and the US authorities will also affect the gold market, since a $ 2 trillion stimulus package is expected to be adopted when Democratic leader Mr. Biden comes to power. Moreover, experts from the precious metals market are convinced that a certain part of these funds will go into gold. In case this happens, gold's price will exceed $ 2000 per ounce.

However, such a development of events is possible only on the annual planning range. Analysts say that such growth is unlikely in the short-term. Today, gold is trading near $1887- $1888, trying to leave this range. On the other hand, experts do not exclude periods of volatility, when the precious metal is most prone to declining. At such times, serious collapses are possible up to $1,750–$1,800 per 1 ounce. However, experts emphasize that these are most often short-term failures.

A similar point of view is shared by the currency strategists of the Canadian bank, RBC. According to analysts' forecast, 1 ounce of gold will yield no more than $1942 in the fourth quarter of this year, and so, this metal is expected to break through the level of $ 2000 in the first quarter of next year. However, a correction may follow, due to which it will be at $ 1,911 per ounce in the second quarter of 2021.

RBC is confident that gold will gain momentum in the short term. This will be strengthened by the growth of risk sentiment in the financial markets. Moreover, they are sure that the yellow metal is undergoing a strong transformation, which economists believe that it will not have a strong impact on gold's future pricing.

The realistic forecasts of precious metals of market strategists have stirred the calculations of investor and billionaire Rob McEwen. He is confident that the price of gold will continue to rise to $ 5,000 per ounce; however, he does not consider this value as great. Therefore, R. McEwen said that social networks will play a key role in the price growth. Market participants, sharing with each other up-to-date information, will help gold to rise. In the wake of investor interest and subsequent large-scale purchases, the expert concluded that precious metal will soar to $5,000 per 1 ounce.

According to R. McEwen, the price growth of gold is also facilitated by the growth of debt burden around the world, primarily in the United States. In such a situation, investors prefer to hedge their trades by investing in time-tested assets. The undisputed leader among such instruments is gold. According to analysts' observations, the more market participants invest in the main precious metal, the more its price increases, strengthening its already high attractiveness.