Gold seen at $2,300 on a six-to-twelve month view – ANZ

Uncertainty dominates as the pandemic rages on and trade tension persists. Together, they should see a strong safe-haven demand for gold. Economists at ANZ Bank forecast gold and silver at $2,300 and $27 respectively on a six-to-twelve month view.

Key quotes

“Abundant liquidity, negative real interest rate, weaker US dollar and escalating geopolitical tensions will continue to favour gold investments. The prospects of additional stimulus measures can add a bullish tinge to bullion.” 

“We see gold and silver prices reaching $2,300/oz and $27/oz respectively over the next six-to-twelve month.”