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Singapore Bullion Marketing Association/Elly Ong/October 2020
“Improving gold market fundamentals could support rising prices into 2021, in our view, with our scenario analysis pointing to 13-50% higher levels than consensus. Drivers include shifting consumer behavior along with stronger haven status amid risks to global economic growth, geopolitics and pandemic concerns.”
USAGOLD note: Elly Ong is an equity and industry analyst at Bloomberg Intelligence. Her analysis includes an interesting event timeline for gold in 2021 – all leading, as the above quote spells out, to a 13% to 50% increase over the consensus estimate.
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