Next year, gold may add significantly - ConsultFX

Next year, gold may add significantly


According to experts of the Swiss bank Credit Suisse, next year the gold rate may show a significant increase.

"Our gold outlook for 2019 remains bullish," said representatives of the financial institute.

As factors that will contribute to an increase in the value of the precious metal, they indicated a weakening of the US currency, a decline in the yield of US government bonds and a correction in the stock market.

According to analysts, another supporting factor will be the purchase of gold by central banks, which will continue to diversify their international reserves.

"If the turbulence in the stock market intensifies, the precious metal will strengthen its position as a defensive asset," the experts at Credit Suisse said.

They expect that in 2019 the average price of gold will be $ 1,275 per 1 ounce, and in 2020 it will reach $ 1,300

Experts from Goldman Sachs, ABN AMRO and Commerzbank also adhere to the "bullish" views on the prospects for gold, according to which next year the precious metal can rise in price to $ 1,350, $ 1,400 and $ 1,500 per ounce, respectively.

The material has been provided by InstaForex Company -