Since the beginning of the current 2020, a real price rally has been observed in the gold market. However, ABN AMRO Bank warned that in the near future, investors should count on the beginning of the correction. At the same time, analysts are configured to continue the upward trend in the long term.
According to bank analysts, “a good start to the year in the gold market does not mean a good end to the year. The cost of precious metals has increased markedly. In the coming weeks, or even months, a correction may come. But in the long run, the upward trend in the gold market will continue. ”
According to the bank’s forecast, by the end of 2021 the cost of the yellow precious metal will be significantly higher than the current values. The review says that in the 4th quarter of 2020, the price of gold will be $ 1,600 per ounce, and by the end of 2021 it could rise to $ 1,750 per ounce.