(Kitco News) Even though gold has been stuck in a narrow trading range for the past month, Standard Chartered still sees the precious metal hitting new all-time highs in the second quarter of this year.
“We believe the price risk remains upwards,” said Standard Chartered precious metals analyst Suki Cooper.
The macro-environment remains supportive of higher prices in light of the weaker U.S. dollar projections, negative real yields, more stimulus, dovish monetary policies, and rising inflation expectations, Cooper wrote on Friday.
The start of 2021 also saw retail demand pick up, with January U.S. coin sales on track to match 1999 high. Read more…..
Chart of the Day
Icarus TV
Gold’s price pattern from January, 2019 to 2021 mirrors that of gold in the same two-year period, starting from 2010; both time periods saw gold rise to a top in the third quarter and both times saw prices drop from its high in almost identical magnitude and timing.
