Gold may reach a record high in 2011
Gold may go up to 1920 dollars/ounce, a record high in 2011, after it broke above $ 1,800, according to analysts at Saxo Bank.
coronavirus in addition to alarms, an important support factor are the changes in us yields, — said OLE Hansen, head of Saxo Bank strategies in the commodities market.
an Increase in inflation expectations, leading to a decline in real yields, along with a potential decline of the U.S. dollar are some of the main factors that, according to analysts Saxo Bank, in the coming months will be to support the market of precious metals. "To this we must add the worsening political tension inside the United States before the November elections, and in relations with China", adds Hansen.
According to him, in the short term, it all depends on whether they will continue the gold move above $ 1800/ounce. A decrease in this level may lead to another correction, but in General, the Bank's forecast for the increase is not changed.
the Next key level, a record high in 2011, — 1921 dollars. With this agreement, and Goldman Sachs, where it is believed that within 12 months the price will reach $ 2,000/ounce.