Gold Set To Outrun Records of The Year 2006

Gold Set To Outrun Records of The Year 2006

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.

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