The precious yellow metal continued its upward rallying on Friday, which brought it close to catapulting the outrun records of the year 2006. Amid the simmering US-China stress and massive demand, the stimulus is likely to boost the prepositions in a few days time.
On the other side, silver is heading towards the most significant jump in its value since 1980. It is inching near $ 30 per ounce. The bullion has rushed more than 35 per cent this year despite the Covid-19 chills. It has overcome the hurdles posed by a weak dollar, negative real rates, a crisis in the medical care field, election campaigning, relief package talks and socio-geopolitical issues to run amok and touching the annual gains in four decades.
Reiterating its forecast, the bank of America Corp said that the gold may touch $ 3000 per ounce mark in 18 months from now and silver can reach $ 35 by 2021.