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Heraeus/Precious Metals Forecast/January 2020
“[S]entiment is strongly bullish with speculative futures positions on NYMEX reaching a record high net long and the gold price reaching its most overbought level since 2010. A great deal of political uncertainty is already priced in, so if the situation settles down then the gold price will most likely pull back. The gold price is expected to trade in a range between $1,700/oz and $1,400/oz.”
USAGOLD note: This report also covers Heraeus’ expectations for silver, platinum, palladium and the more exotic precious metals – rhodium, ruthenium and iridium. Heraeus is a global precious refiner located in Germany.