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Gold costs are well supported around $1,800 an ounce as reserve banks and governments pump liquidity into financial markets, providing much needed life-support for the international economy struck by the COVID-19 pandemic, this according to Kristina Hooper, chief financial investment officer at Invesco.
Nevertheless, investors must also anticipate to see some wild volatility this year, Hooper told Kitco News.
Hooper stated that she sees the possibility for gold to sell a wild variety between $1,500 and $2,000 an ounce this year. She added that so much will certainly depend on how the international economic climate remains to react to the coronavirus. Nonetheless, she also stated that her base instance situation is for gold to hold about current levels.
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Gold price well supported, has room to push to $1,800
Gold prices are well supported around $1,800 an ounce as central banks and governments pump liquidity into financial markets, providing much needed life-support for the global economy hit by the COVID-19 pandemic, this according to Kristina Hooper, chief investment officer at Invesco.
However, investors should also expect to see some wild volatility this year, Hooper told Kitco News.
Hooper said that she sees the potential for gold to trade in a wild range between $1,500 and $2,000 an ounce this year. She added that so much will depend on how the global economy continues to react to the coronavirus. However, she also said that her base case scenario is for gold to hold around current levels.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
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Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
